Form 4: Steven Madden CEO Sells Shares to Cover Tax Obligations

Steven Madden's CEO, Edward R. Rosenfeld, sold 8,330 shares of common stock to cover tax obligations related to the vesting of restricted stock.

Summary

• Edward R. Rosenfeld, the CEO of Steven Madden, Ltd., sold 8,330 shares of common stock on November 29, 2024.
• The sale was executed at a price of $45.58 per share.
• This transaction was to cover tax obligations arising from the vesting of 15,063 shares of restricted common stock.
• Following the transaction, Rosenfeld directly owns 688,708 shares of Steven Madden common stock.
• Rosenfeld also has indirect ownership of 234,000 shares through the Rosenfeld 2021 Family Trust, but disclaims beneficial ownership of these shares.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction for tax purposes, with no indication of positive or negative sentiment.

Management Comments

• The reporting person disclaims beneficial ownership of the 234,000 shares held by the Rosenfeld 2021 Family Trust.

Industry Context

This is a routine transaction for executives who receive stock-based compensation. It is common for executives to sell shares to cover tax obligations when restricted stock vests.

Comparison to Industry Standards

• Executive stock sales to cover tax obligations are a common practice across publicly traded companies.
• The number of shares sold and the price are within the typical range for such transactions.
• Similar transactions are regularly reported by executives at comparable companies in the fashion and retail industry.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine sale to cover tax obligations.

Key Dates

Keywords

Steven Madden, SHOO, Edward R. Rosenfeld, stock sale, insider trading, tax obligations, restricted stock, executive compensation