Form 4: Snap-on Inc. Executive Richard Thomas Miller Reports Stock Option Exercise and Sale
SEC Form 4
Richard Thomas Miller, VP, Gen Counsel & Secretary of Snap-on Inc., reports exercising stock options and selling shares on March 28, 2024, according to a Form 4 filing.
Summary
- Richard Thomas Miller, a VP, Gen Counsel & Secretary at Snap-on Inc., filed a Form 4 detailing changes in beneficial ownership of the company's stock.
- On March 28, 2024, Miller exercised stock options to acquire 704 shares of common stock at a price of $138.03 per share.
- Simultaneously, Miller sold 704 shares of common stock at a weighted average price of $298.1607 per share, with individual trades ranging from $298.03 to $298.27.
- Following these transactions, Miller directly owns 3,212.8491 shares of Snap-on Inc. common stock.
- Miller also holds various stock options and restricted/performance/deferred stock units.
Sentiment
Score: 5
Explanation: This is a routine filing related to stock option exercises and sales, indicating a neutral sentiment.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders and their holdings in the company.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in insider ownership.
- The exercise of stock options and subsequent sale could be perceived as a way for the executive to realize personal gains.
Key Dates
| Date | Description |
|---|---|
| 2018-11-09 | Date of Power of Attorney execution. |
| 2023-02-23 | Date of adoption of Rule 10b5-1 trading plan. |
| 2024-02-09 | Original stock option grant vests in three annual installments beginning on this date. |
| 2024-02-09 | Original stock option grant vests in three annual installments beginning on this date. |
| 2024-02-10 | Original stock option grant vests in three annual installments beginning on this date. |
| 2024-02-15 | Original stock option grant vests in three annual installments beginning on this date. |
| 2024-03-28 | Date of stock option exercise and sale. |
| 2025-02-10 | Restricted stock units vest three years from the grant date on this date. |
| 2025-02-15 | Original stock option grant vests in three annual installments beginning on this date. |
| 2026-02-09 | Restricted stock units vest three years from the grant date on this date. |
| 2026-02-11 | Stock Option (Right to Buy) Expiration Date. |
| 2027-02-09 | Stock Option (Right to Buy) Expiration Date. |
| 2027-02-15 | Restricted stock units vest three years from the grant date on this date. |
| 2028-02-15 | Stock Option (Right to Buy) Expiration Date. |
| 2029-02-14 | Stock Option (Right to Buy) Expiration Date. |
| 2030-02-13 | Stock Option (Right to Buy) Expiration Date. |
| 2031-02-11 | Stock Option (Right to Buy) Expiration Date. |
| 2032-02-10 | Stock Option (Right to Buy) Expiration Date. |
| 2033-02-09 | Stock Option (Right to Buy) Expiration Date. |
| 2034-02-15 | Stock Option (Right to Buy) Expiration Date. |
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