Form 4: Topgolf Callaway Brands Corp. Executive Exercises Stock Options and Disposes of Shares for Tax Obligations
SEC Form 4 Filing
Mark F. Leposky, EVP, Chief Supply Chain Officer of Topgolf Callaway Brands Corp., exercised stock options and disposed of shares to cover tax withholding requirements.
Summary
- On February 22, 2025, Mark F. Leposky, EVP, Chief Supply Chain Officer of Topgolf Callaway Brands Corp., exercised restricted stock units (RSUs) converting into 6,222 shares of common stock.
- Leposky also disposed of 2,214 shares of common stock at a price of $7.01 to satisfy tax withholding requirements related to the RSU vesting.
- Following these transactions, Leposky directly owns 323,496 shares of common stock and 6,221 unvested RSUs.
- The RSUs were granted on February 22, 2023, and vest in three equal annual installments beginning on the first anniversary of the grant date.
Sentiment
Score: 5
Explanation: This is a neutral event, reflecting standard executive compensation practices. It doesn't inherently indicate positive or negative sentiment regarding the company's performance.
Industry Context
This Form 4 filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It provides transparency into the transactions of company insiders.
Stakeholder Impact
- The transaction has a minimal direct impact on stakeholders, as it primarily reflects internal executive compensation adjustments.
Key Dates
| Date | Description |
|---|---|
| February 22, 2023 | Date the Restricted Stock Units (RSUs) were granted, vesting in three equal annual installments beginning on the first anniversary of the grant date. |
| November 30, 2023 | Date of the Limited Power of Attorney granted to Clinton Foss. |
| February 22, 2025 | Date of the transaction where RSUs vested and shares were disposed of to cover tax obligations. |
| February 25, 2025 | Date of the signature on the Form 4 filing. |
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