Form 4: SunCoke Energy Executive John Quanci Exercises and Sells Stock Options
SEC Form 4
John Quanci, Chief Technology Officer of SunCoke Energy, Inc., executed a broker-assisted cashless exercise of stock options and sold the acquired shares on May 24, 2024.
Summary
- On May 24, 2024, John Quanci, the Chief Technology Officer of SunCoke Energy, Inc. (SXC), exercised 4,532 stock options at an exercise price of $3.80.
- This was a broker-assisted cashless exercise of the final tranche of market options granted on February 17, 2016, under the company's Long-Term Performance Enhancement Plan.
- Following the exercise, Quanci sold 4,532 shares of common stock at a price of $10.67 per share.
- After these transactions, Quanci directly owns 19,922 shares of SunCoke Energy common stock.
- The reported transactions do not include options from other tranches with different exercise prices, vesting dates, and expiration dates.
Sentiment
Score: 5
Explanation: This is a routine disclosure of stock option exercise and sale, with no particularly positive or negative implications for the company's overall outlook.
Industry Context
Executive stock option exercises and sales are a common occurrence in publicly traded companies and are often related to executive compensation plans. The filing of Form 4 is a standard regulatory requirement to disclose these transactions.
Key Dates
| Date | Description |
|---|---|
| 02/17/2016 | Date of grant for the stock options exercised. |
| 02/17/2017 | First vesting anniversary of the stock options. |
| 02/17/2026 | Expiration date of the stock options. |
| 05/24/2024 | Date of the stock option exercise and sale of shares. |
| 05/28/2024 | Date of signature for the Form 4 filing. |
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