Form 4: Superior Industries CFO Settles Restricted Stock Units, Sells Shares for Tax Obligations
SEC Form 4
CFO Timothy Trenary settled restricted stock units and sold shares of Superior Industries International, Inc. to cover tax obligations.
Summary
- On May 19, 2024, Timothy Trenary, Chief Financial Officer of Superior Industries International, Inc., settled 18,145 restricted stock units, receiving common stock.
- Concurrently, Trenary disposed of 7,912 shares of common stock at a price of $3.65 per share to cover tax obligations related to the settlement of the restricted stock units.
- Following these transactions, Trenary directly owns 216,260 shares of Superior Industries International, Inc. common stock and 54,164 restricted stock units.
Sentiment
Score: 5
Explanation: Neutral sentiment as the filing reflects routine transactions related to executive compensation and tax obligations.
Future Outlook
The remaining restricted stock units will vest and settle in stock in two approximately equal installments on March 2, 2025, and March 2, 2026.
Industry Context
This Form 4 filing is a routine disclosure of insider transactions, providing transparency to investors regarding the actions of company executives.
Stakeholder Impact
- The transactions have a minimal impact on stakeholders as they are related to executive compensation and tax obligations.
Key Dates
| Date | Description |
|---|---|
| 9/2/2020 | Date of Power of Attorney execution. |
| 05/19/2024 | Date of restricted stock unit settlement and share disposal. |
| 05/21/2024 | Date of signature for the Form 4 filing. |
| March 2, 2025 | Next vesting date for restricted stock units. |
| March 2, 2026 | Final vesting date for restricted stock units. |
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