Form 4: TPI Composites Executive Jerrold Lavine Reports Stock Transactions

Jerrold Lavine, President of Automotive at TPI Composites, reports the vesting of restricted stock units and subsequent tax withholding, resulting in changes to his beneficial ownership.

Summary

• On March 21, 2024, Jerrold I. Lavine, President of Automotive at TPI Composites, had 2,534 restricted stock units (RSUs) vest.
• Lavine also disposed of 725 shares of common stock to satisfy tax withholding obligations related to the vesting of the RSUs at a price of $2.88 per share.
• Following these transactions, Lavine beneficially owns 51,627 shares of TPI Composites common stock and 7,601 restricted stock units.
• The RSUs vest over three years, with 25% vesting on the first anniversary of the grant date, 25% on the second, and 50% on the third, contingent upon continued service to the company.

Sentiment

Score: 5

Explanation: This is a neutral disclosure of stock transactions, with no inherent positive or negative implications for the company's performance.

Future Outlook

The remaining RSUs will continue to vest over the next two years, contingent upon Lavine's continued service to TPI Composites.

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

• Shareholders are informed about changes in insider ownership.
• The transactions have a minor impact on the overall shareholding structure.

Key Dates