Form 4: Turning Point Brands CEO Graham Purdy Reports Stock Transactions
SEC Form 4 Filing
Graham Purdy, President and CEO of Turning Point Brands, reports acquisition and disposal of common stock and derivative securities, including options and restricted stock units, related to the company's equity incentive plans.
Summary
- On March 3, 2025, Graham Purdy, the President and CEO of Turning Point Brands, engaged in several transactions involving the company's stock.
- Purdy acquired 8,530 shares of common stock at $70.34 per share.
- He also disposed of 6,527 shares at $70.34 per share to cover taxes related to vested restricted stock units.
- Additionally, Purdy acquired shares upon settlement of performance restricted stock units granted in March 2020 (5,922 shares), March 2022 (702 shares), May 2023 (8,090 shares), and March 2024 (6,787 shares) after the compensation committee determined the performance criteria were met.
- He disposed of 6,440 shares to cover taxes related to the settlement of these performance restricted stock units.
- Following these transactions, Purdy directly owns 227,466 shares of common stock and 34,011 restricted stock units.
- Purdy also holds options for 56,400 shares of common stock at various exercise prices and expiration dates.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the document primarily reports stock transactions, which don't inherently indicate positive or negative company performance.
Positives
- The acquisition of shares by the CEO could be interpreted as a positive signal, indicating confidence in the company's future performance.
Negatives
- The disposal of shares to cover tax obligations, while routine, could be perceived negatively if investors focus solely on the selling activity.
Risks
- There are no specific risks mentioned in this document, as it primarily details stock transactions by an executive.
Industry Context
This Form 4 filing is a routine disclosure required by the SEC when corporate insiders, like the CEO, trade their company's stock; it provides transparency to the market.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies and their executives.
- The details provided are consistent with SEC requirements for disclosing insider transactions.
- Similar filings can be observed across the industry for companies like Altria Group (MO) and Philip Morris International (PM) when their executives trade company stock.
Stakeholder Impact
- The transactions could influence investor sentiment, potentially affecting the stock price.
- Employees holding company stock or options may be affected by changes in stock value.
Key Dates
| Date | Description |
|---|---|
| 01/01/2018 | Start date for vesting of options granted on 05/17/2027 (34% of underlying shares). |
| 01/01/2019 | Start date for vesting of options granted on 05/17/2027 (33% of underlying shares) and 03/07/2028 (34% of underlying shares). |
| 01/01/2020 | Start date for vesting of options granted on 05/17/2027 (33% of underlying shares), 03/07/2028 (33% of underlying shares), and 03/20/2029 (34% of underlying shares). |
| 01/01/2021 | Start date for vesting of options granted on 03/07/2028 (33% of underlying shares), 03/20/2029 (33% of underlying shares), and 03/18/2030 (34% of underlying shares). |
| 01/01/2022 | Start date for vesting of options granted on 03/20/2029 (33% of underlying shares), 03/18/2030 (33% of underlying shares), and 02/18/2031 (34% of underlying shares). |
| 01/01/2023 | Start date for vesting of options granted on 03/18/2030 (33% of underlying shares), 02/18/2031 (33% of underlying shares), and 03/14/2032 (34% of underlying shares). |
| 01/01/2024 | Start date for vesting of options granted on 02/18/2031 (33% of underlying shares), and 03/14/2032 (33% of underlying shares). |
| 05/17/2027 | Expiration date for options with an exercise price of $15.41. |
| 03/07/2028 | Expiration date for options with an exercise price of $21.21. |
| 03/20/2029 | Expiration date for options with an exercise price of $47.58. |
| 03/18/2030 | Expiration date for options with an exercise price of $14.85. |
| 02/18/2031 | Expiration date for options with an exercise price of $51.75. |
| 03/14/2032 | Expiration date for options with an exercise price of $30.46. |
| 03/03/2025 | Date of the reported stock transactions, including acquisitions and disposals of common stock and settlement of performance restricted stock units. |
| 03/05/2025 | Date of signature for the Form 4 filing. |
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