Form 4: TD SYNNEX Executive Dennis Polk Executes Stock Option and Sells Shares

TD SYNNEX Executive Dennis Polk exercised stock options and sold shares of common stock on October 2nd, 2024, resulting in adjustments to his beneficial ownership.

Summary

• On October 2nd, 2024, Dennis Polk, an executive at TD SYNNEX CORP, exercised stock options to acquire 15,689 shares of common stock at a price of $56.50 per share.
• Following the exercise of the options, Polk sold 8,155 shares at a weighted average price of $116.86 and 7,534 shares at a weighted average price of $117.01.
• These transactions resulted in a decrease in Polk's direct ownership of TD SYNNEX common stock, with his holdings decreasing from 150,395 to 132,282 shares after further disposals to cover tax obligations.
• The sales were executed to cover tax obligations related to the option exercise, with 712 shares disposed of on October 2nd and 1,712 shares disposed of on October 3rd, at prices of $116.63 and $115.35 respectively.
• Polk still holds options for an additional 15,689 shares.

Sentiment

Score: 5

Explanation: This is a routine disclosure of stock transactions by an executive. It doesn't inherently indicate positive or negative sentiment about the company's performance.

Industry Context

Executive stock transactions are a common occurrence in publicly traded companies. These transactions are closely monitored by investors as they can provide insights into management's perspective on the company's future prospects. Form 4 filings are a standard part of regulatory compliance for insiders.

Comparison to Industry Standards

• Executive compensation packages often include stock options to align management's interests with those of shareholders.
• The vesting schedule of these options, such as the 20% vesting on the first anniversary followed by monthly vesting, is a typical structure.
• Sales of shares acquired through option exercises are also common, particularly for tax planning purposes.
• Comparing Polk's transactions to those of executives at similar companies like Ingram Micro or Tech Data would provide a broader context, but that data is not available in this document.

Stakeholder Impact

• The transactions may have a minor impact on shareholders due to the change in ownership, but the overall effect is likely minimal.
• Employees may be indirectly affected by the executive's actions, but the impact is not significant.

Key Dates