Form 4: Summit Materials Executive Charles DePriest Reports Stock Transactions
SEC Form 4
Charles DePriest, an executive at Summit Materials, reported the vesting and conversion of restricted stock units into Class A Common Stock, along with other transactions.
Summary
- On February 29, 2024, Charles DePriest, EVP at Summit Materials, reported transactions involving Class A Common Stock.
- These transactions included the vesting of restricted stock units (RSUs) and their conversion into shares of Class A Common Stock.
- Specifically, 1,105, 794, and 2,098 RSUs vested and converted into shares.
- DePriest also disposed of 1,324 shares to cover tax obligations at a price of $42.71 per share.
- Following these transactions, DePriest directly owns 10,486 shares of Class A Common Stock.
- The total holdings include shares acquired through a stock dividend on December 29, 2022, and the Employee Stock Purchase Plan on October 18, 2022, May 28, 2023 and November 30, 2023.
Sentiment
Score: 5
Explanation: This is a neutral report of stock transactions by an executive, with no inherent positive or negative implications for the company's performance.
Industry Context
This Form 4 filing is a routine disclosure required by the SEC for corporate insiders, providing transparency into their stock transactions. It is a standard practice for executives to receive and vest stock options or restricted stock units as part of their compensation packages.
Stakeholder Impact
- The transactions reported may have a minor impact on shareholders due to the change in ownership by an insider.
Key Dates
| Date | Description |
|---|---|
| 12/29/2022 | Shares of Class A Common Stock received pursuant to a stock dividend. |
| 10/18/2022 | Shares of Class A Common Stock acquired through the Issuer's Employee Stock Purchase Plan. |
| 05/28/2023 | Shares of Class A Common Stock acquired through the Issuer's Employee Stock Purchase Plan. |
| 11/30/2023 | Shares of Class A Common Stock acquired through the Issuer's Employee Stock Purchase Plan. |
| 02/29/2024 | Date of earliest transaction: vesting of restricted stock units and conversion to Class A Common Stock. |
| 02/28/2025 | Date of second vesting installment for some restricted stock units. |
| 03/04/2024 | Date of signature on the Form 4 filing. |
Keywords
Summit Materials, Class A Common Stock, Restricted Stock Units, Form 4, Insider Trading, DePriest, Vesting, Stock Transactions
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