Form 4: Timken Co. Executive Christopher Coughlin Reports Stock Transactions
SEC Form 4
Christopher Coughlin, EVP & President of Industrial Motion at Timken Co., reports acquisition and disposal of common stock due to vesting of restricted share units and tax withholding.
Summary
- Christopher A. Coughlin, an executive at Timken Co., filed a Form 4 detailing changes in beneficial ownership of the company's stock.
- On February 8, 2025, Coughlin acquired 1,734 shares of common stock through the vesting of restricted share units and disposed of 442 shares to cover tax obligations at a price of $81.15.
- Following these transactions, Coughlin directly owns 87,625 shares of Timken Co. common stock.
- On February 9, 2025, Coughlin acquired 1,969 shares of common stock through the vesting of restricted share units and disposed of 502 shares to cover tax obligations at a price of $81.15.
- Following these transactions, Coughlin directly owns 89,092 shares of Timken Co. common stock.
- The filing also includes a power of attorney granted in 2020, authorizing Hansal N. Patel, Christine M. Przybysz, and John-Alex Shoaff to act on Coughlin's behalf for SEC filings related to Timken Co. securities.
Sentiment
Score: 6
Explanation: The document is a routine SEC filing detailing stock transactions by an executive. The sentiment is neutral as it reflects standard compensation practices and tax obligations.
Positives
- The vesting of restricted share units indicates that Coughlin is meeting performance or time-based milestones set by the company.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. These filings are closely watched by investors seeking insights into management's perspective on the company's stock.
Comparison to Industry Standards
- Executive compensation packages often include restricted stock units that vest over time, aligning executive interests with long-term shareholder value.
- The vesting schedule of 25% per year is a common practice in many companies, including competitors like Parker-Hannifin and Eaton Corporation.
- Tax withholding through stock disposal is a standard procedure for executives receiving stock-based compensation, similar to practices at Rockwell Automation and Emerson Electric.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect standard executive compensation practices.
- The vesting of restricted share units incentivizes the executive to work towards the company's long-term success.
Key Dates
| Date | Description |
|---|---|
| 02/11/2020 | Date of execution of the power of attorney. |
| 02/08/2024 | Date of grant for time-based restricted share units, 25% of which vested on 02/08/2025. |
| 02/09/2023 | Date of grant for time-based restricted share units, 25% of which vested on 02/09/2025. |
| 02/08/2025 | Date of stock acquisition and disposal due to vesting of restricted share units and tax withholding. |
| 02/09/2025 | Date of stock acquisition and disposal due to vesting of restricted share units and tax withholding. |
| 02/11/2025 | Date of signature for the Form 4 filing. |
Keywords
Form 4, beneficial ownership, Timken Co, TKR, stock, restricted share units, Christopher Coughlin, power of attorney, SEC filing
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