Form 4: Turning Point Brands Executive Brittani Cushman Reports Stock Transactions
SEC Form 4 Filing
Brittani Cushman, Senior VP and General Counsel at Turning Point Brands, reported the disposal of 262 shares for tax purposes and holds various stock options.
Summary
- Brittani Cushman, a Senior VP and General Counsel at Turning Point Brands, filed a Form 4 detailing changes in her beneficial ownership of company stock.
- On January 2, 2025, she disposed of 262 shares of common stock at a price of $60.65 per share to cover taxes related to vested restricted stock units.
- Following the transaction, Ms. Cushman directly owns 24,577 shares of common stock and indirectly owns 406.806 shares through her spouse.
- She also holds various stock options granted under the company's 2015 and 2021 Equity Incentive Plans, with exercise prices ranging from $13 to $51.75.
- These options vest over several years, with some vesting as early as January 1, 2018, and others as late as January 1, 2025.
Sentiment
Score: 5
Explanation: The document is a neutral report of stock transactions, with no indication of positive or negative sentiment.
Industry Context
This filing is a routine disclosure of stock transactions by a company executive, which is common practice for publicly traded companies.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies in the US, such as Turning Point Brands, and are required by the SEC to ensure transparency in insider trading.
- The vesting schedules and option grants are typical for executive compensation packages in similar companies.
- Companies like Altria, Philip Morris International, and British American Tobacco also have similar reporting requirements for their executives.
Stakeholder Impact
- The stock transaction has a minor impact on shareholders as it is a small number of shares being sold by an executive.
- The transaction is not expected to have a significant impact on employees, customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| 01/01/2018 | Some stock options began vesting on this date. |
| 01/01/2019 | Some stock options began vesting on this date. |
| 01/01/2020 | Some stock options began vesting on this date. |
| 01/01/2021 | Some stock options began vesting on this date. |
| 01/01/2022 | Some stock options began vesting on this date. |
| 01/01/2023 | Some stock options began vesting on this date. |
| 01/01/2024 | Some stock options began vesting on this date. |
| 01/02/2025 | Date of the reported stock transaction and vesting of restricted stock units. |
| 01/06/2025 | Date the Form 4 was signed. |
| 02/14/2027 | Expiration date of some stock options. |
| 05/14/2027 | Expiration date of some stock options. |
| 03/07/2028 | Expiration date of some stock options. |
| 03/20/2029 | Expiration date of some stock options. |
| 03/18/2030 | Expiration date of some stock options. |
| 02/18/2031 | Expiration date of some stock options. |
| 03/14/2032 | Expiration date of some stock options. |
Keywords
Form 4, insider trading, stock options, beneficial ownership, Turning Point Brands, equity incentive plan, restricted stock units, Brittani Cushman
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