Form 4: TPB Executive Brittani Cushman Reports Stock Activity
Insider Transaction Report
Turning Point Brands' Sr VP, General Counsel Brittani Cushman reported significant common stock acquisitions from RSU/PRU settlements and tax-related dispositions.
Summary
- Brittani Cushman, Sr VP, General Counsel of Turning Point Brands, Inc. (TPB), reported multiple transactions involving common stock.
- Acquired 4,782 shares of common stock at $108.51 on March 2, 2026, from the settlement of performance restricted units granted in February 2021.
- Acquired 668 shares of common stock at $108.51 on March 2, 2026, from the settlement of performance restricted units granted in March 2022.
- Acquired 10,700 shares of common stock at $108.51 on March 2, 2026, from the settlement of performance restricted units granted in May 2023.
- Acquired 1,632 shares of common stock at $108.51 on March 2, 2026, from the settlement of performance restricted units granted in March 2024.
- Acquired 615 shares of common stock at $108.51 on March 2, 2026, from the settlement of performance restricted units granted in March 2025.
- Disposed of 6,057 shares of common stock at $108.51 on March 2, 2026, for tax withholding related to performance restricted stock units.
- Disposed of 1,192 shares of common stock at $108.51 on March 2, 2026, for tax withholding related to restricted stock units.
- Received a grant of 2,181 restricted stock units (RSUs) under the 2021 Equity Incentive Plan on March 3, 2026, valued at $107.57 per share.
- Following these transactions, the reporting person beneficially owns 47,410 shares of common stock, which includes 9,598 restricted stock units and 8,716 shares of common stock deferred into the Company Non-Qualified Deferred Plan.
- Indirectly owns 406.806 shares of common stock through a spouse, for which beneficial ownership is disclaimed.
- Holds various stock options granted under the 2015 and 2021 Equity Incentive Plans, with exercise prices ranging from $14.85 to $51.75 and expiration dates between March 2028 and March 2032.
Sentiment
Score: 5
Explanation: StockSavvy.ai views this as a neutral filing, primarily detailing routine executive compensation events and ownership changes, which are standard disclosures for a publicly traded company.
Positives
- Settlement of performance restricted units indicates that the performance criteria set by the compensation committee were met for awards granted between February 2021 and March 2025.
- The reporting person received a new grant of 2,181 restricted stock units, demonstrating continued equity compensation and alignment with shareholder interests.
Negatives
- A total of 7,249 shares were disposed of for tax withholding purposes related to the settlement of performance restricted stock units and receipt of restricted stock units.
Future Outlook
NA
Industry Context
StockSavvy.ai notes that insider transaction filings like this Form 4 provide transparency into executive compensation and ownership changes, which can be a signal of management's confidence, though this filing primarily reflects the mechanics of equity compensation.
Stakeholder Impact
- Shareholders: The filing provides transparency into executive ownership and compensation, which can align management interests with shareholder value.
- Employees: The equity incentive plans mentioned are a form of employee compensation for senior personnel.
Key Dates
| Date | Description |
|---|---|
| 01/01/2019 | Earliest vesting date for options granted under the 2015 Equity Incentive Plan. |
| 01/01/2020 | Vesting date for options granted under the 2015 Equity Incentive Plan. |
| 01/01/2021 | Vesting date for options granted under the 2015 Equity Incentive Plan. |
| 01/01/2022 | Vesting date for options granted under the 2015 Equity Incentive Plan. |
| 01/01/2023 | Vesting date for options granted under the 2015 and 2021 Equity Incentive Plans. |
| 01/01/2024 | Vesting date for options granted under the 2015 and 2021 Equity Incentive Plans. |
| 01/01/2025 | Vesting date for options granted under the 2021 Equity Incentive Plan. |
| 03/07/2028 | Expiration date for 500 options granted under the 2015 Equity Incentive Plan. |
| 03/20/2029 | Expiration date for 4,800 options granted under the 2015 Equity Incentive Plan. |
| 03/18/2030 | Expiration date for 3,000 options granted under the 2015 Equity Incentive Plan. |
| 02/18/2031 | Expiration date for 7,000 options granted under the 2015 Equity Incentive Plan. |
| 03/14/2032 | Expiration date for 8,000 options granted under the 2021 Equity Incentive Plan. |
| 03/02/2026 | Date of earliest transaction, including settlement of performance restricted units and tax withholdings. |
| 03/03/2026 | Date of receipt of a grant of restricted stock units. |
| 03/05/2026 | Signature date of the reporting person for the filing. |
Recommendation
holdThis Form 4 primarily details routine equity compensation events for a senior executive, including the settlement of performance-based restricted units and tax-related dispositions. While it shows continued executive ownership and alignment, it does not present new information that would fundamentally alter the investment thesis for Turning Point Brands, Inc. Therefore, a 'hold' recommendation is appropriate as it reflects standard operational compensation rather than a significant market signal.
Keywords
Turning Point Brands, TPB, Insider Trading, Form 4, Equity Compensation, Restricted Stock Units, Performance Restricted Units, Stock Options, Executive Compensation
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