Form 4: Turning Point Brands Director Lawrence Wexler Reports Share Transaction
SEC Form 4 Filing
Director Lawrence Wexler of Turning Point Brands, Inc. reports a transaction involving the withholding of shares for tax obligations related to vested restricted stock units.
Summary
- Lawrence Wexler, a director at Turning Point Brands, Inc., filed a Form 4 disclosing a transaction on January 2, 2025.
- The transaction involved the withholding of 439 shares of common stock to cover tax obligations related to vested restricted stock units.
- The shares were withheld at a price of $60.65 per share.
- Following the transaction, Wexler beneficially owns 370,737 shares of common stock, including 4,709 restricted stock units.
- Wexler also holds various options to purchase common stock at different exercise prices and vesting schedules.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing and does not indicate any positive or negative sentiment. It is a neutral disclosure of a standard transaction.
Industry Context
Form 4 filings are a standard part of regulatory compliance for publicly traded companies, providing transparency into the transactions of company insiders.
Comparison to Industry Standards
- Form 4 filings are a common practice for all publicly traded companies in the US, ensuring transparency of insider transactions.
- The vesting schedules for the options are typical for equity compensation plans.
- The tax withholding of shares is a standard procedure when restricted stock units vest.
Stakeholder Impact
- The transaction has a minor impact on shareholders as it involves a small number of shares being withheld for tax purposes.
Key Dates
| Date | Description |
|---|---|
| 01/01/2018 | First vesting date for some of the options. |
| 01/01/2019 | Second vesting date for some of the options. |
| 01/01/2020 | Third vesting date for some of the options. |
| 01/01/2021 | Fourth vesting date for some of the options. |
| 01/01/2022 | Fifth vesting date for some of the options. |
| 01/01/2023 | Sixth vesting date for some of the options. |
| 01/01/2024 | Final vesting date for some of the options. |
| 01/02/2025 | Date of the reported share transaction. |
| 01/06/2025 | Date the Form 4 was signed. |
| 05/17/2027 | Expiration date for some of the options. |
| 03/07/2028 | Expiration date for some of the options. |
| 03/20/2029 | Expiration date for some of the options. |
| 03/18/2030 | Expiration date for some of the options. |
| 02/18/2031 | Expiration date for some of the options. |
Keywords
Form 4, insider trading, beneficial ownership, stock options, restricted stock units, Turning Point Brands, Lawrence Wexler, share transaction
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