Form 4: Tredegar Corp CEO John M. Steitz Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Tredegar Corp CEO John M. Steitz reports the withholding of shares for tax liability and acquisition of phantom units.
Summary
- On March 19, 2024, Tredegar Corp withheld 9,893 shares from John M. Steitz to cover tax liabilities at a price of $5.27 per share.
- Following this transaction, Steitz directly owns 237,544 shares of Tredegar Corp common stock.
- On March 21, 2024, Steitz acquired 8,652 phantom units that are the economic equivalent of common stock, exercisable on May 4, 2025.
- On March 21, 2024, Steitz acquired 59,229 phantom units that are the economic equivalent of common stock, exercisable on May 11, 2026.
- Following these transactions, Steitz directly owns 8,652 phantom units exercisable on May 4, 2025 and 59,229 phantom units exercisable on May 11, 2026.
Sentiment
Score: 6
Explanation: The document reflects routine transactions related to executive compensation and tax obligations, suggesting a neutral sentiment.
Positives
- The acquisition of phantom units suggests continued alignment of the CEO's interests with the company's performance.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates changes in the holdings of Tredegar's CEO.
Stakeholder Impact
- The transactions reported in this filing provide transparency to shareholders regarding the CEO's holdings and compensation.
Key Dates
| Date | Description |
|---|---|
| 03/19/2021 | Date of original grant of restricted stock that vested on 03/19/2024 |
| 03/19/2024 | Shares withheld for tax liability. |
| 03/21/2024 | Acquisition of phantom units. |
| 05/04/2025 | Exercisable date for 8,652 phantom units. |
| 05/11/2026 | Exercisable date for 59,229 phantom units. |
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