Form 4: SPX Technologies CFO Mark Carano Reports Stock Transactions

Mark Carano, CFO of SPX Technologies, reports the disposal of shares to cover withholding taxes and holdings of common stock and stock options.

Summary

• Mark Carano, the CFO & Treasurer of SPX Technologies, reported changes in beneficial ownership of SPXC securities on March 1, 2024.
• The transactions included the disposal of 353 shares of common stock to cover withholding taxes at a price of $117.19 per share.
• Following the transaction, Carano directly owns 15,290 shares of common stock, which includes unvested restricted stock units.
• Carano also indirectly owns 207 shares through a 401(k) plan.
• He holds employee stock options to purchase 5,552 shares at $71.93, vesting in three equal installments beginning March 1, 2024, and 4,057 shares at $116.4, vesting in three equal installments beginning February 28, 2025.

Sentiment

Score: 5

Explanation: This is a routine filing reflecting standard compensation practices and tax obligations, so the sentiment is neutral.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates the CFO's stock-based compensation and adjustments to holdings for tax purposes.

Comparison to Industry Standards

• Comparing Carano's holdings and transactions to those of CFOs at similar industrial companies like Honeywell or 3M would provide context.
• For example, Honeywell CFO Anne Madden's Form 4 filings could be compared to Carano's in terms of stock option grants, vesting schedules, and share disposals.
• Benchmarking against peers helps assess whether Carano's compensation and equity ownership are in line with industry norms.

Stakeholder Impact

• The transaction has a minimal direct impact on shareholders, as it is related to tax obligations on vested stock.

Key Dates