Form 4: Turning Point Brands CEO Exercises Options and Disposes of Shares for Tax Obligations
SEC Form 4 Filing
Graham Purdy, CEO of Turning Point Brands, exercised options to acquire 5,216 shares of common stock at $3.83 per share and disposed of 2,394 shares to cover tax obligations.
Summary
- On August 5, 2024, Graham Purdy, the President and CEO of Turning Point Brands, exercised options to acquire 5,216 shares of Turning Point Brands common stock at a price of $3.83 per share.
- Following the exercise of these options, Purdy disposed of 2,394 shares to cover tax obligations at a price of $35.46.
- After these transactions, Purdy directly owns 210,654 shares of common stock.
- Purdy also holds options for thousands of shares at various exercise prices and expiration dates.
Sentiment
Score: 5
Explanation: This is a neutral document detailing routine insider transactions. It doesn't inherently indicate positive or negative sentiment about the company's performance.
Industry Context
This Form 4 filing is a routine disclosure related to insider transactions and is a common occurrence for publicly traded companies. It provides transparency into the trading activities of company executives.
Stakeholder Impact
- The transaction has a minor impact on shareholders as it involves the exercise of options and subsequent sale of shares by the CEO.
Key Dates
| Date | Description |
|---|---|
| 08/08/2014 | 50% of the underlying shares of options granted under the issuer's 2006 Equity Plan vested and became exercisable. |
| 08/08/2015 | 25% of the underlying shares of options granted under the issuer's 2006 Equity Plan vested and became exercisable. |
| 08/08/2016 | 25% of the underlying shares of options granted under the issuer's 2006 Equity Plan vested and became exercisable. |
| 01/01/2018 | 34% of the underlying shares of options granted under the issuer's 2015 Equity Incentive Plan vested and became exercisable. |
| 01/01/2019 | 34% of the underlying shares of options granted under the issuer's 2015 Equity Incentive Plan vested and became exercisable, and 34% of the underlying shares of options granted under the issuer's 2015 Equity Incentive Plan vested and became exercisable. |
| 01/01/2020 | 33% of the underlying shares of options granted under the issuer's 2015 Equity Incentive Plan vested and became exercisable, and 33% of the underlying shares of options granted under the issuer's 2015 Equity Incentive Plan vested and became exercisable. |
| 01/01/2021 | 33% of the underlying shares of options granted under the issuer's 2015 Equity Incentive Plan vested and became exercisable, and 33% of the underlying shares of options granted under the issuer's 2015 Equity Incentive Plan vested and became exercisable. |
| 01/01/2022 | 34% of the underlying shares of options granted under the issuer's 2015 Equity Incentive Plan vested and became exercisable. |
| 01/01/2023 | 33% of the underlying shares of options granted under the issuer's 2015 Equity Incentive Plan vested and became exercisable. |
| 01/01/2024 | 33% of the underlying shares of options granted under the issuer's 2015 Equity Incentive Plan vested and became exercisable. |
| 01/01/2025 | 33% of the underlying shares of options granted under the issuer's 2015 Equity Incentive Plan vested and became exercisable. |
| 08/05/2024 | Graham Purdy exercised options and disposed of shares. |
| 08/06/2024 | Date of the Form 4 filing. |
| 02/18/2031 | Expiration date for some of the options held by Graham Purdy. |
| 03/14/2032 | Expiration date for some of the options held by Graham Purdy. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.