Form 4: Turning Point Brands Executive Brian Wigginton Reports Stock Transaction
SEC Form 4 Filing
Brian Wigginton, Senior VP of Finance & CAO at Turning Point Brands, reported a transaction involving the withholding of shares for tax obligations and details of his existing stock options.
Summary
- Brian Wigginton, a Senior VP at Turning Point Brands, filed a Form 4 detailing a transaction on January 2, 2025.
- The transaction involved the withholding of 152 common stock shares at a price of $60.65 to cover tax obligations related to vested restricted stock units.
- Following the transaction, Wigginton beneficially owns 10,831 shares of common stock, which includes 7,039 restricted stock units and 3,792 shares of common stock.
- The filing also details various stock options held by Wigginton, granted under the company's 2015 and 2021 Equity Incentive Plans, with different vesting schedules and exercise prices.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing and does not indicate any positive or negative sentiment.
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 across all publicly listed companies in the US.
- The vesting schedules and option grants are typical for executive compensation packages in similar companies.
- The share withholding for tax obligations 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 withheld for tax purposes.
Key Dates
| Date | Description |
|---|---|
| 01/01/2018 | Start of vesting for some options granted under the 2015 plan. |
| 01/01/2019 | Start of vesting for some options granted under the 2015 plan. |
| 01/01/2020 | Start of vesting for some options granted under the 2015 plan. |
| 01/01/2021 | Start of vesting for some options granted under the 2015 plan. |
| 01/01/2022 | Start of vesting for some options granted under the 2015 plan. |
| 01/01/2023 | Start of vesting for some options granted under the 2015 and 2021 plans. |
| 01/01/2024 | Start of vesting for some options granted under the 2021 plan. |
| 01/02/2025 | Date of the reported transaction involving share withholding for taxes. |
| 01/06/2025 | Date the Form 4 was signed. |
| 03/07/2028 | Expiration date for some options. |
| 03/20/2029 | Expiration date for some options. |
| 03/18/2030 | Expiration date for some options. |
| 02/18/2031 | Expiration date for some options. |
| 05/17/2031 | Expiration date for some options. |
| 03/14/2032 | Expiration date for some options. |
Keywords
Form 4, insider trading, stock options, equity incentive plan, restricted stock units, beneficial ownership, Turning Point Brands, TPB, Brian Wigginton
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