Form 4: State Street Executive Vice President Ann Fogarty Sells Shares to Cover Tax Obligations

Executive Vice President of State Street Corporation, Ann Fogarty, sold 704 shares of common stock to cover tax obligations related to vesting deferred stock.

Summary

• Ann Fogarty, an Executive Vice President at State Street Corporation, sold 704 shares of the company's common stock on November 15, 2024.
• The sale was executed at a price of $95.48 per share.
• This transaction was conducted to satisfy tax withholding obligations associated with the vesting of previously awarded deferred stock.
• Following the transaction, Ms. Fogarty directly owns 52,542 shares of State Street Corporation.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction for tax purposes, with no significant positive or negative implications for the company's performance or outlook.

Industry Context

This is a routine transaction for executives to manage their tax obligations related to stock-based compensation. It is common for executives to sell shares to cover taxes when deferred stock vests.

Comparison to Industry Standards

• Executive stock sales to cover tax obligations are a common practice across the financial industry.
• Many executives at comparable financial institutions such as JP Morgan Chase, Bank of America, and Goldman Sachs regularly execute similar transactions.
• These transactions are typically disclosed through SEC Form 4 filings, ensuring transparency and compliance with regulations.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine sale by an executive for tax purposes.

Key Dates

Keywords

State Street Corporation, Ann Fogarty, Executive Vice President, stock sale, tax obligations, deferred stock, insider trading, Form 4