Form 4: Turning Point Brands Director Wexler Exercises Options and Sells Shares
SEC Form 4
Director Lawrence Wexler exercised options and sold shares of Turning Point Brands, Inc. on June 11, 2024.
Summary
- On June 11, 2024, Lawrence Wexler, a director of Turning Point Brands, Inc. (TPB), exercised 4,695 options to acquire common stock at a price of $3.83 per share.
- Following the exercise, Wexler sold 4,695 shares of common stock at a weighted average price of $31.57, with individual sales prices ranging from $31.29 to $31.80.
- After these transactions, Wexler directly owns 367,701 shares of common stock.
- Wexler also holds options to purchase additional shares of common stock at various exercise prices and vesting schedules.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing insider trading activity, which is neither inherently positive nor negative. The sentiment is neutral.
Industry Context
This filing is a routine disclosure of insider trading activity. It provides transparency to the market regarding the transactions of company insiders.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in ownership by a company director.
- The sale of shares by a director could be perceived negatively by some investors, although the impact is likely minimal given the relatively small number of shares involved.
Key Dates
| Date | Description |
|---|---|
| 08/08/2014 | 50% of options granted on 08/08/2024 vested |
| 08/08/2015 | 25% of options granted on 08/08/2024 vested |
| 08/08/2016 | 25% of options granted on 08/08/2024 vested |
| 01/01/2018 | 34% of options granted on 05/17/2027 vested |
| 01/01/2019 | 33% of options granted on 05/17/2027 and 34% of options granted on 03/07/2028 vested |
| 01/01/2020 | 33% of options granted on 05/17/2027, 33% of options granted on 03/07/2028 and 34% of options granted on 03/20/2029 vested |
| 01/01/2021 | 33% of options granted on 03/07/2028, 33% of options granted on 03/20/2029 and 34% of options granted on 03/18/2030 vested |
| 01/01/2022 | 33% of options granted on 03/20/2029, 33% of options granted on 03/18/2030 and 34% of options granted on 02/18/2031 vested |
| 01/01/2023 | 33% of options granted on 03/18/2030 and 33% of options granted on 02/18/2031 vested |
| 01/01/2024 | 33% of options granted on 02/18/2031 vested |
| 06/11/2024 | Lawrence Wexler exercised options and sold shares of TPB |
| 06/12/2024 | Date of signature for the Form 4 filing |
| 08/08/2024 | Expiration date for options exercised on 06/11/2024 |
| 05/17/2027 | Expiration date for options with exercise price of $15.41 |
| 03/07/2028 | Expiration date for options with exercise price of $21.21 |
| 03/20/2029 | Expiration date for options with exercise price of $47.58 |
| 03/18/2030 | Expiration date for options with exercise price of $14.85 |
| 02/18/2031 | Expiration date for options with exercise price of $51.75 |
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