Form 4: Summit Materials Executive Kekin Ghelani Reports Stock Transactions
SEC Form 4 Filing
Kekin Ghelani, Chief Strategy & Growth Officer of Summit Materials, reports the vesting and conversion of restricted stock units into Class A Common Stock.
Summary
- Kekin Ghelani, Chief Strategy & Growth Officer of Summit Materials, Inc., filed a Form 4 detailing changes in beneficial ownership.
- On February 28, 2024, 9,667 restricted stock units vested and converted into Class A Common Stock.
- On February 29, 2024, 3,398 restricted stock units vested and converted into Class A Common Stock.
- Ghelani also disposed of 2,855 shares on February 28, 2024, at a price of $42.39 and 977 shares on February 29, 2024, at a price of $42.71.
- Following these transactions, Ghelani directly owns 17,109 shares of Class A Common Stock and 6,795 restricted stock units.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the filing simply reports routine stock transactions related to executive compensation.
Industry Context
Form 4 filings are routine disclosures required by the SEC to provide transparency into the transactions of company insiders. These filings are closely watched by investors to gauge management's sentiment and confidence in the company's prospects.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in ownership, but the overall effect is likely minimal.
Key Dates
| Date | Description |
|---|---|
| May 28, 2023 | Shares of Class A Common Stock acquired through the Issuer's Employee Stock Purchase Plan |
| September 15, 2023 | Start date for vesting of some restricted stock units in three equal annual installments |
| February 28, 2024 | Vesting of 9,667 restricted stock units and disposal of 2,855 shares at $42.39 |
| February 29, 2024 | Vesting of 3,398 restricted stock units and disposal of 977 shares at $42.71 |
| February 28, 2024 | Start date for vesting of some restricted stock units in three equal annual installments |
| March 01, 2024 | Date of signature for the Form 4 filing |
Keywords
Form 4, Beneficial Ownership, Summit Materials, Ghelani, Stock Transactions, Restricted Stock Units, Class A Common Stock
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