Form 4: Standard Motor Products Executive Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Dale Burks, Chief Commercial Officer & EVP of Standard Motor Products, sold shares to cover tax liabilities after vesting of restricted stock and a performance share award.
Summary
- On November 8, 2024, Dale Burks acquired 1,366 shares of Standard Motor Products, Inc. common stock at $0 upon vesting of a performance share award.
- On November 11, 2024, Burks sold 1,722 shares of common stock at an average price of $34.96 to cover withholding tax liability.
- Following these transactions, Burks directly owns 67,865 shares of common stock and indirectly owns 5,474 ESOP shares.
- The sale was a broker-assisted transaction executed in multiple trades at prices ranging from $34.77 to $35.38.
Sentiment
Score: 5
Explanation: The document reflects routine insider trading activity (selling shares to cover tax obligations), which is neither particularly positive nor negative.
Industry Context
Form 4 filings are routine disclosures of transactions by company insiders and are closely watched by investors for signals about management's view of the company's prospects. Sales to cover tax obligations are common after stock vesting.
Key Dates
| Date | Description |
|---|---|
| September 2021 | Date of performance share award issued to the reporting person under the Company's Amended and Restated 2016 Omnibus Incentive Plan. |
| 11/08/2024 | Date Dale Burks acquired 1,366 shares of common stock due to vesting of a performance share award. |
| 11/11/2024 | Date Dale Burks sold 1,722 shares of common stock to cover withholding tax liability. |
| 11/12/2024 | Date of signature on the Form 4 filing. |
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