Form 4: Topgolf Callaway Brands Corp. EVP, CFO Brian P. Lynch Reports Stock Transactions
SEC Form 4
EVP, CFO Brian P. Lynch reports the vesting and subsequent sale of Topgolf Callaway Brands Corp. stock to cover tax obligations.
Summary
- Brian P. Lynch, EVP and CFO of Topgolf Callaway Brands Corp., reported multiple transactions involving common stock and derivative securities on June 3, 2024.
- These transactions included the conversion of Performance Stock Units (PSUs) and Restricted Stock Units (RSUs) into common stock.
- A significant portion of the newly acquired shares was then disposed of to satisfy tax withholding requirements.
- Lynch's direct holdings of common stock after these transactions amount to 185,349 shares, with an additional 36,575 shares held indirectly through a family trust.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing stock transactions by an executive. It doesn't inherently convey positive or negative sentiment.
Industry Context
Executive stock transactions are a common occurrence in publicly traded companies. This filing provides transparency into the holdings and transactions of a key executive at Topgolf Callaway Brands Corp.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they involve the vesting of previously granted equity and subsequent sales to cover tax obligations.
Key Dates
| Date | Description |
|---|---|
| February 12, 2021 | Original grant date of some PSUs and RSUs, vesting in installments. |
| March 8, 2021 | Original grant date of some PSUs and RSUs, vesting in installments. |
| February 17, 2022 | Grant date of some RSUs, vesting in three equal annual installments. |
| February 22, 2023 | Grant date of some RSUs, vesting in three equal annual installments. |
| November 30, 2023 | Date of Limited Power of Attorney granted to Clinton Foss. |
| February 12, 2024 | Date when certain PSUs and RSUs were fully vested. |
| March 8, 2024 | Date when certain RSUs were fully vested. |
| June 3, 2024 | Date of reported transactions: conversion of PSUs/RSUs and stock disposal for tax obligations. |
| June 4, 2024 | Date of signature for the Form 4 filing. |
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