Form 4: Spirit AeroSystems CEO Exercises Stock Options for Tax Obligations
SEC Form 4 Filing
Spirit AeroSystems CEO, Patrick M. Shanahan, executed a transaction involving restricted stock units to cover tax obligations related to his retirement eligibility.
Summary
- Patrick M. Shanahan, the President and CEO of Spirit AeroSystems, engaged in a transaction involving company stock.
- On November 15, 2024, 12,820 restricted stock units were vested early to cover tax obligations related to Shanahan's retirement eligibility.
- An equal number of shares of Class A Common Stock were withheld to pay taxes at a price of $30.7 per share.
- Following these transactions, Shanahan directly owns 110,269 shares of Class A Common Stock and 590,194 restricted stock units.
Sentiment
Score: 5
Explanation: The document is a routine SEC filing related to executive stock transactions, which is neither positive nor negative for the company's overall performance.
Industry Context
This is a routine filing related to executive compensation and is common for publicly traded companies. It does not indicate any significant change in the company's operations or outlook.
Comparison to Industry Standards
- Executive stock transactions are a common practice in publicly traded companies like Spirit AeroSystems.
- Companies such as Boeing and Airbus also have similar executive compensation structures involving stock options and restricted stock units.
- The vesting of stock options for tax purposes is a standard practice to manage executive tax liabilities.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a routine executive compensation matter.
Key Dates
| Date | Description |
|---|---|
| 11/15/2024 | Date of the stock transaction involving the vesting of restricted stock units and withholding of shares. |
| 11/19/2024 | Date the SEC Form 4 was signed by David Myers, Attorney-in-Fact. |
Keywords
Spirit AeroSystems, Patrick M. Shanahan, stock options, restricted stock units, executive compensation, insider trading, SEC Form 4
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