Form 4: SPX Technologies Executive Reports Stock Transactions
SEC Form 4 Filing
J. Randall Data, a top executive at SPX Technologies, reports the disposal of shares to cover tax obligations and ongoing holdings in company stock and options.
Summary
- On March 1, 2024, J. Randall Data, President, Heating and Global Operations at SPX Technologies, engaged in transactions involving SPXC common stock.
- Data disposed of 1,476 shares to cover withholding taxes at a price of $117.19 per share.
- Following the transaction, Data directly owns 64,657 shares of common stock, including unvested restricted stock units.
- Data also indirectly owns 3,616 shares through a 401(k) plan.
- Data holds multiple employee stock options with varying exercise prices and expiration dates.
Sentiment
Score: 6
Explanation: The sentiment is neutral. The filing reflects routine transactions related to executive compensation and does not contain information that would significantly impact investor sentiment.
Positives
- The executive's continued holding of a significant number of shares and options indicates confidence in the company's future performance.
Industry Context
Executive stock transactions are a normal part of corporate governance and compensation practices. Monitoring these transactions can provide insights into management's perspective on the company's valuation and future prospects.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a routine disposal of shares for tax purposes.
Key Dates
| Date | Description |
|---|---|
| 02/20/2021 | First vesting date of employee stock option to purchase common stock at $50.09. |
| 03/01/2022 | First vesting date of employee stock option to purchase common stock at $58.34. |
| 03/01/2023 | First vesting date of employee stock option to purchase common stock at $48.97. |
| 02/20/2023 | Grant date of employee stock option to purchase common stock at $50.09. |
| 03/01/2024 | Transaction date: Disposal of shares for tax obligations and first vesting date of employee stock option to purchase common stock at $71.93. |
| 02/28/2025 | First vesting date of employee stock option to purchase common stock at $116.4. |
| 03/01/2025 | First vesting date of employee stock option to purchase common stock at $48.97. |
| 02/20/2030 | Expiration date of employee stock option to purchase common stock at $50.09. |
| 03/01/2031 | Expiration date of employee stock option to purchase common stock at $58.34. |
| 03/01/2032 | Expiration date of employee stock option to purchase common stock at $48.97. |
| 03/01/2033 | Expiration date of employee stock option to purchase common stock at $71.93. |
| 02/28/2034 | Expiration date of employee stock option to purchase common stock at $116.4. |
| 03/05/2024 | Date of Form 4 filing. |
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