Form 4: Turning Point Brands Executive Brittani Cushman Reports Stock Transactions
SEC Form 4
Brittani Cushman, Sr VP, General Counsel of Turning Point Brands, reports acquisition and disposal of common stock and restricted stock units.
Summary
- On March 1, 2024, Brittani Cushman, Sr VP, General Counsel of Turning Point Brands, engaged in several transactions involving the company's stock.
- Cushman acquired 1,946 shares of common stock at $26.52 per share upon settlement of performance restricted stock units granted in May 2023.
- She also disposed of 643 shares at $26.52 per share to cover tax obligations related to the settled performance restricted stock units.
- Additionally, Cushman received a grant of 5,441 restricted stock units under the company's 2021 Equity Incentive Plan.
- Following these transactions, Cushman directly owns 25,572 shares of common stock and indirectly owns 406.806 shares through a spouse.
- She also holds options for 53,550 shares of common stock at various exercise prices and expiration dates.
Sentiment
Score: 6
Explanation: The sentiment is neutral. The transactions are standard for executive compensation and tax obligations. There's no indication of unusual activity or concern.
Positives
- The acquisition of shares upon settlement of performance restricted stock units suggests that performance criteria were met, which could be viewed positively.
- The grant of additional restricted stock units aligns the executive's interests with the company's long-term performance.
Negatives
- The disposal of shares to cover tax obligations, while common, slightly reduces the executive's direct holdings.
Industry Context
This filing is a routine disclosure of insider transactions and doesn't necessarily indicate a significant shift in the company's outlook or performance. Monitoring insider activity can provide insights into management's confidence in the company.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders, as they are related to executive compensation and tax obligations.
Key Dates
| Date | Description |
|---|---|
| 01/01/2018 | Options vest and become exercisable as to 34% of the underlying shares. |
| 01/01/2019 | Options vest and become exercisable as to 33% of the underlying shares. |
| 01/01/2020 | Options vest and become exercisable as to 33% of the underlying shares. |
| 01/01/2020 | Options vest and become exercisable as to 34% of the underlying shares. |
| 01/01/2021 | Options vest and become exercisable as to 33% of the underlying shares. |
| 01/01/2021 | Options vest and become exercisable as to 34% of the underlying shares. |
| 01/01/2022 | Options vest and become exercisable as to 33% of the underlying shares. |
| 01/01/2022 | Options vest and become exercisable as to 34% of the underlying shares. |
| 01/01/2023 | Options vest and become exercisable as to 33% of the underlying shares. |
| 01/01/2023 | Options vest and become exercisable as to 34% of the underlying shares. |
| 01/01/2024 | Options vest and become exercisable as to 33% of the underlying shares. |
| 01/01/2024 | Options vest and become exercisable as to 33% of the underlying shares. |
| 01/01/2025 | Options vest and become exercisable as to 33% of the underlying shares. |
| 02/14/2027 | Expiration date for some options. |
| 05/14/2027 | Expiration date for some options. |
| 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. |
| 03/14/2032 | Expiration date for some options. |
| 03/01/2024 | Date of stock transactions. |
| 03/05/2024 | Date of Form 4 filing. |
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