TPB.NYSETurning Point Brands, INC
Form 4: Turning Point Brands Executive Reports Stock Transactions
Sentiment:
SEC Form 4
Brittani Cushman, Sr VP, General Counsel of Turning Point Brands, reports acquisition and disposal of common stock and derivative securities.
Summary
- On March 3, 2025, Brittani Cushman, Sr VP, General Counsel of Turning Point Brands, engaged in several transactions involving the company's stock.
- These transactions included the acquisition of common stock through the settlement of performance restricted stock units and the grant of restricted stock units, as well as the disposal of shares to cover tax obligations.
- Cushman acquired 2,051 shares of common stock at $70.34 per share and disposed of 1,145 shares at $70.34 per share for tax payments related to vested restricted stock units.
- She also acquired shares upon the settlement of performance restricted stock units granted in March 2020 (5,466 shares), October 2020 (3,644 shares), March 2022 (702 shares), May 2023 (1,946 shares), and March 2024 (1,632 shares) at $70.34 per share.
- Additionally, 4,186 shares were withheld for tax payments related to performance restricted stock units.
- Following these transactions, Cushman directly owns 34,687 shares of common stock and indirectly owns 406.806 shares through her spouse.
- She also holds options for 53,550 shares of common stock with exercise prices ranging from $13 to $51.75 and expiration dates between 2027 and 2032.
Sentiment
Score: 6
Explanation: The sentiment is neutral as the document primarily reports stock transactions. The acquisition of shares through performance-based units is mildly positive, while the disposal for tax purposes is neutral.
Positives
- The acquisition of shares through the settlement of performance restricted stock units indicates that performance criteria were met, which could be viewed positively.
Negatives
- The disposal of shares to cover tax obligations could be seen as a minor negative, although it's a common practice.
Risks
- There are no specific risks mentioned in this document.
Future Outlook
There is no specific future outlook provided in this document.
Industry Context
This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. It provides transparency into the trading activities of company executives.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies, ensuring transparency in insider trading activities.
- The vesting schedules and option grants are typical components of executive compensation packages in similar companies.
- Comparable companies in the consumer goods sector also utilize equity incentive plans to align management's interests with those of shareholders.
Stakeholder Impact
- The transactions may have a minor impact on shareholders by slightly altering the ownership structure.
- Employees who are also shareholders may be affected by the stock price fluctuations.
Key Dates
| Date | Description |
|---|---|
| 01/01/2018 | Options vest and become exercisable as to 34% of the underlying shares granted on 05/14/2027. |
| 01/01/2019 | Options vest and become exercisable as to 33% of the underlying shares granted on 05/14/2027. |
| 01/01/2020 | Options vest and become exercisable as to 33% of the underlying shares granted on 05/14/2027. |
| 01/01/2020 | Options vest and become exercisable as to 34% of the underlying shares granted on 03/20/2029. |
| 01/01/2021 | Options vest and become exercisable as to 33% of the underlying shares granted on 03/20/2029. |
| 01/01/2019 | Options vest and become exercisable as to 34% of the underlying shares granted on 03/07/2028. |
| 01/01/2020 | Options vest and become exercisable as to 33% of the underlying shares granted on 03/07/2028. |
| 01/01/2021 | Options vest and become exercisable as to 33% of the underlying shares granted on 03/07/2028. |
| 01/01/2021 | Options vest and become exercisable as to 34% of the underlying shares granted on 03/18/2030. |
| 01/01/2022 | Options vest and become exercisable as to 33% of the underlying shares granted on 03/18/2030. |
| 01/01/2023 | Options vest and become exercisable as to 33% of the underlying shares granted on 03/18/2030. |
| 01/01/2022 | Options vest and become exercisable as to 34% of the underlying shares granted on 02/18/2031. |
| 01/01/2023 | Options vest and become exercisable as to 33% of the underlying shares granted on 02/18/2031. |
| 01/01/2024 | Options vest and become exercisable as to 33% of the underlying shares granted on 02/18/2031. |
| 01/01/2023 | Options vest and become exercisable as to 34% of the underlying shares granted on 03/14/2032. |
| 01/01/2024 | Options vest and become exercisable as to 33% of the underlying shares granted on 03/14/2032. |
| 01/01/2025 | Options vest and become exercisable as to 33% of the underlying shares granted on 03/14/2032. |
| 02/14/2027 | Expiration date for options with an exercise price of $13. |
| 05/14/2027 | Expiration date for options with an exercise price of $15.41. |
| 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. |
| 03/14/2032 | Expiration date for options with an exercise price of $30.46. |
| 03/03/2025 | Date of the reported transactions. |
| 03/05/2025 | Date of signature. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.