Form 4: Summit Materials Director Howard L. Lance Reports Stock Vesting
SEC Form 4 Filing
Director Howard L. Lance reports vesting of restricted stock units into Class A Common Stock of Summit Materials.
Summary
- On February 29, 2024, Howard L. Lance, a director of Summit Materials, Inc., had 4,038 restricted stock units vest and convert into Class A Common Stock.
- Following the transaction, Lance directly owns 16,363 shares of Class A Common Stock and indirectly owns 45,772 shares through the Howard L. Lance Trust dated September 1, 2006.
- The vested restricted stock units were settled on a one-for-one basis into Class A Common Stock.
- The reporting was filed on March 4, 2024.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing regarding stock transactions, indicating a neutral sentiment.
Industry Context
This filing is a routine disclosure related to insider transactions and is a standard practice for publicly traded companies.
Stakeholder Impact
- The transaction could have a minor impact on shareholders due to the change in ownership, but it is unlikely to be significant.
Key Dates
| Date | Description |
|---|---|
| 09/01/2006 | Date of Howard Lance Trust |
| 12/29/2022 | Date of stock dividend paid |
| 02/29/2024 | Date of transaction (vesting of restricted stock units) |
| 03/04/2024 | Date of Form 4 filing |
Keywords
Form 4, Summit Materials, Director, Stock Vesting, Howard L. Lance, Class A Common Stock, Restricted Stock Units
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