Form 4: SPX Technologies Executive J. Randall Data Reports Stock Disposals for Tax Obligations
SEC Form 4 Filing
J. Randall Data, a top executive at SPX Technologies, disclosed the disposal of shares to cover withholding taxes related to vesting restricted stock units.
Summary
- J. Randall Data, President, Heating and Global Operations at SPX Technologies, reported changes in beneficial ownership of SPXC stock.
- On February 28, 2025, 436 shares of common stock were disposed of at a price of $143.94 to cover withholding taxes.
- On March 3, 2025, 964 shares of common stock were disposed of at a price of $145.65 to cover withholding taxes.
- Following these transactions, Data directly owns 50,020 shares of common stock, which includes unvested restricted stock units, and indirectly owns 3,751 shares through a 401(k) plan.
- Data also holds employee stock options to purchase common stock at prices of $48.97, $71.93, and $116.40, with varying vesting schedules and expiration dates.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing detailing stock transactions by an executive. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. These filings are closely watched by investors seeking insights into management's perspective on the company's stock.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in insider ownership, but the disposals are related to tax obligations and not necessarily indicative of the executive's view on the company's future performance.
Key Dates
| Date | Description |
|---|---|
| 03/01/2023 | First vesting date for employee stock option to purchase common stock at $48.97 (vests in three equal installments). |
| 03/01/2024 | First vesting date for employee stock option to purchase common stock at $71.93 (vests in three equal installments). |
| 02/28/2025 | Disposal of 436 shares of common stock at $143.94 per share; First vesting date for employee stock option to purchase common stock at $116.40 (vests in three equal installments). |
| 03/03/2025 | Disposal of 964 shares of common stock at $145.65 per share. |
| 03/04/2025 | Date of Form 4 filing. |
| 03/01/2032 | Expiration date for employee stock option to purchase common stock at $48.97. |
| 03/01/2033 | Expiration date for employee stock option to purchase common stock at $71.93. |
| 02/28/2034 | Expiration date for employee stock option to purchase common stock at $116.40. |
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