Form 4: Turning Point Brands Executive Brian Wigginton Reports Stock Transaction
SEC Form 4
Brian Wigginton, Sr VP Finance & CAO of Turning Point Brands, reports disposition of shares for tax obligations related to vested restricted stock units.
Summary
- On April 1, 2024, Brian Wigginton, Sr VP Finance & CAO of Turning Point Brands, Inc. (TPB), reported a transaction involving the disposition of 380 shares of common stock at a price of $29.12.
- The transaction was due to shares withheld for the payment of taxes related to restricted stock units that vested on April 1, 2024.
- Following the transaction, Wigginton beneficially owns 10,981 shares, which includes 7,464 restricted stock units and 3,517 shares of common stock.
- Wigginton also holds options to purchase Turning Point Brands common stock at various exercise prices and expiration dates, granted under the company's 2015 and 2021 Equity Incentive Plans.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing, and the transaction appears routine. Therefore, the sentiment is neutral.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common for publicly traded companies. It provides transparency into the transactions of company insiders.
Stakeholder Impact
- The transaction has a minimal impact on stakeholders as it is a routine sale of shares to cover tax obligations.
Key Dates
| Date | Description |
|---|---|
| 01/01/2018 | Options vest and become exercisable as to 34% of the underlying shares granted on 05/15/2027. |
| 01/01/2019 | Options vest and become exercisable as to 34% of the underlying shares granted on 03/07/2028 and 05/15/2027. |
| 01/01/2020 | Options vest and become exercisable as to 34% of the underlying shares granted on 03/20/2029, 03/07/2028 and 05/15/2027. |
| 01/01/2021 | Options vest and become exercisable as to 34% of the underlying shares granted on 03/18/2030 and 03/07/2028. |
| 01/01/2022 | Options vest and become exercisable as to 34% of the underlying shares granted on 05/17/2031 and 03/18/2030. |
| 01/01/2023 | Options vest and become exercisable as to 34% of the underlying shares granted on 03/14/2032 and 05/17/2031. |
| 01/01/2024 | Options vest and become exercisable as to 33% of the underlying shares granted on 05/17/2031 and shares withheld for the payment of taxes related to restricted stock units that have vested. |
| 01/01/2025 | Options vest and become exercisable as to 33% of the underlying shares granted on 03/14/2032. |
| 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. |
| 05/17/2031 | Expiration date for options with an exercise price of $45.05. |
| 03/14/2032 | Expiration date for options with an exercise price of $30.46. |
| 04/01/2024 | Date of transaction: Disposition of shares for tax obligations related to vested restricted stock units. |
| 04/03/2024 | Date of Form 4 filing. |
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