Form 4: Spirit AeroSystems Executive Exercises Stock Options, Sells Shares to Cover Taxes
SEC Form 4 Filing
Kailash Krishnaswamy, SVP of Aftermarket at Spirit AeroSystems, exercised stock options and sold shares to cover tax obligations on February 26, 2024.
Summary
- On February 26, 2024, Kailash Krishnaswamy, SVP of Aftermarket at Spirit AeroSystems, exercised 1,798 restricted stock units, which converted into an equal number of Class A Common Stock shares.
- Krishnaswamy then sold 708 shares of Class A Common Stock at a price of $28.39 to satisfy tax obligations related to the vesting of the restricted stock units.
- Following these transactions, Krishnaswamy directly owns 23,073 shares of Class A Common Stock and 16,196 restricted stock units.
Sentiment
Score: 5
Explanation: This is a neutral event, reflecting standard executive compensation practices. It doesn't indicate positive or negative sentiment towards the company's performance.
Industry Context
This is a routine Form 4 filing, indicating insider transactions related to stock options and tax obligations, which is common for executives in publicly traded companies.
Key Dates
| Date | Description |
|---|---|
| 02/26/2021 | Reporting person was granted 5,394 restricted stock units, vesting in three annual installments beginning on the first anniversary of the grant date. |
| 02/26/2024 | Kailash Krishnaswamy exercised 1,798 restricted stock units and sold 708 shares to cover taxes. |
| 02/28/2024 | Date of signature for the Form 4 filing. |
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