Form 4: Standex International Director Acquires Phantom Stock Units
SEC Form 4 Filing
Thomas E. Chorman, a director at Standex International, acquired phantom stock units convertible to common stock on August 23, 2024, under the company's Management Stock Purchase Plan.
Summary
- On August 23, 2024, Thomas E. Chorman, a director of Standex International Corporation, acquired 435 phantom stock units.
- These units are part of the Management Stock Purchase Plan component of the 2018 Omnibus Incentive Plan.
- The phantom stock units will vest three years after the purchase date, on August 23, 2027, and will be converted into common stock.
- The price of the phantom stock units was $120.8625 per unit.
- Following the transaction, Chorman directly owns 435 derivative securities.
Sentiment
Score: 7
Explanation: The sentiment is neutral to positive as it reflects standard executive compensation practices and aligns management interests with shareholders.
Industry Context
This filing reflects routine executive compensation practices, aligning executive interests with shareholder value through equity-based compensation.
Stakeholder Impact
- The transaction aligns the director's interests with those of shareholders, as the value of the phantom stock units is tied to the company's stock performance.
Key Dates
| Date | Description |
|---|---|
| 08/23/2024 | Date of transaction: Thomas E. Chorman acquired 435 phantom stock units. |
| 08/23/2027 | Vesting date of the phantom stock units, convertible to common stock. |
| 08/27/2024 | Date of signature on the Form 4 filing. |
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