Form 4: SPX Technologies CFO Mark Carano Reports Stock Disposals for Tax Obligations
SEC Form 4 Filing
Mark Carano, CFO of SPX Technologies, reports the disposal of common stock to cover withholding taxes related to vesting restricted stock units.
Summary
- On February 28, 2025, Mark Carano, CFO & Treasurer of SPX Technologies, disposed of 258 shares of common stock at a price of $143.94 to cover withholding taxes.
- Following this transaction, Carano directly owns 14,483 shares of common stock, which includes unvested restricted stock units.
- On March 3, 2025, Carano disposed of 351 shares of common stock at a price of $145.65 to cover withholding taxes.
- Following this transaction, Carano directly owns 14,132 shares of common stock, which includes unvested restricted stock units.
- Carano also indirectly owns 348 shares through a 401(k) plan.
- Carano holds employee stock options to purchase 5,552 shares at $71.93, vesting in three equal installments beginning March 1, 2024, and expiring March 1, 2033.
- He also holds employee stock options to purchase 4,057 shares at $116.4, vesting in three equal installments beginning February 28, 2025, and expiring February 16, 2034.
Sentiment
Score: 5
Explanation: Neutral sentiment as the filing reflects routine transactions related to executive compensation and tax obligations.
Industry Context
Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.
Stakeholder Impact
- The transactions have a minimal impact on shareholders as they are related to tax obligations from vesting restricted stock units.
Key Dates
| Date | Description |
|---|---|
| 03/01/2024 | First vesting date for employee stock option to purchase common stock at $71.93. |
| 02/28/2025 | Date of common stock disposal for tax withholding and first vesting date for employee stock option to purchase common stock at $116.4. |
| 02/28/2025 | Date of transaction where 258 shares of common stock were disposed of. |
| 03/03/2025 | Date of transaction where 351 shares of common stock were disposed of. |
| 03/04/2025 | Date of signature on the Form 4 filing. |
| 03/01/2026 | Future vesting date for employee stock option to purchase common stock at $71.93. |
| 02/28/2027 | Future vesting date for employee stock option to purchase common stock at $116.4. |
| 03/01/2033 | Expiration date for employee stock option to purchase common stock at $71.93. |
| 02/16/2034 | Expiration date for employee stock option to purchase common stock at $116.4. |
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