Form 4: Turning Point Brands Director Exercises Options and Disposes of Shares for Tax Obligations
SEC Form 4 Filing
Gregory H.A. Baxter, a director of Turning Point Brands, Inc., exercised options and disposed of shares to cover tax obligations on August 6, 2024.
Summary
- On August 6, 2024, Gregory H.A. Baxter, a director of Turning Point Brands, Inc., exercised 14,344 options at a price of $3.83 per share.
- Following the exercise, Baxter disposed of 6,661 shares to cover taxes and exercise costs at a price of $35.7 per share.
- After these transactions, Baxter beneficially owns 48,544 shares of common stock directly, and the total holdings including restricted stock units is 55,205 shares.
Sentiment
Score: 5
Explanation: This is a routine transaction disclosure; sentiment is neutral as it reflects standard insider activity.
Industry Context
Form 4 filings are standard disclosures for corporate insiders and provide transparency into their transactions, which can influence investor sentiment.
Stakeholder Impact
- The transaction provides transparency to shareholders regarding insider activity.
Key Dates
| Date | Description |
|---|---|
| 08/08/2014 | 50% of the options vested and became exercisable. |
| 08/08/2015 | 25% of the options vested and became exercisable. |
| 08/08/2016 | 25% of the options vested and became exercisable. |
| 08/06/2024 | Director exercised options and disposed of shares. |
| 08/07/2024 | Date of signature for the Form 4 filing. |
| 08/08/2024 | Expiration date of the options. |
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