Form 4: Turning Point Brands Executive De Plano Reports Tax-Related Share Withholding

Lorenzo De Plano, Chief Strategy Officer of Turning Point Brands, reports a transaction involving the withholding of shares for tax obligations related to vested restricted stock units.

Summary

• On April 1, 2024, Lorenzo De Plano, Chief Strategy Officer of Turning Point Brands, Inc., had 479 shares of common stock withheld at a price of $29.12 per share to cover taxes related to the vesting of restricted stock units.
• Following this transaction, De Plano beneficially owns 30,896 shares, which includes 7,179 restricted stock units and 23,717 shares of common stock.
• De Plano also holds options to purchase common stock, granted under the company's equity incentive plans, with exercise prices of $14.85, $51.75, and $30.46.
• These options vest in installments, with the final vesting dates for the respective grants being January 1, 2023, January 1, 2024 and January 1, 2025.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing related to insider transactions. It doesn't convey any particularly positive or negative sentiment about the company's performance or prospects.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates a standard tax-related transaction and doesn't necessarily reflect a change in the executive's long-term outlook on the company.

Key Dates