Form 4: Turning Point Brands Executive Chairman David Glazek Reports Changes in Beneficial Ownership

David Glazek, Executive Chairman of Turning Point Brands, reports transactions involving common stock and options, including shares withheld for tax payments related to vested restricted stock units.

Summary

• On April 1, 2024, David Glazek, Executive Chairman of Turning Point Brands, Inc., reported changes in beneficial ownership.
• The transactions included the withholding of 2,401 shares of common stock at a price of $29.12 for the payment of taxes related to restricted stock units that vested on April 1, 2024.
• Glazek also reported the acquisition of 54,289 options on March 11, 2024, and 77,519 options on May 12, 2023, under the company's 2021 Equity Incentive Plan.
• Following the reported transactions, Glazek beneficially owns 102,792 shares of common stock, which includes 40,067 restricted stock units and 62,725 shares of common stock, as well as 54,289 options granted on March 11, 2024, and 77,519 options granted on May 12, 2023.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing, so the sentiment is neutral. It simply reports transactions and doesn't convey any particular positive or negative outlook.

Industry Context

This filing is a routine disclosure of insider transactions, which are common for executives of publicly traded companies. It provides transparency into the trading activities of company insiders.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies, ensuring transparency in insider trading activities.
• The vesting schedules and terms of the options granted under the 2021 Equity Incentive Plan are likely comparable to those offered by similar companies to their executives.
• Companies like Altria Group (MO) and British American Tobacco (BTI), which operate in related industries, also have executives who regularly file Form 4s to report changes in their beneficial ownership.

Stakeholder Impact

• The filing provides transparency to shareholders regarding the executive's holdings and transactions.
• The vesting of restricted stock units and options can incentivize the executive to work towards the company's success, potentially benefiting shareholders.

Key Dates