Form 4: Turning Point Brands Executive Sells Shares and Reports Beneficial Ownership
SEC Form 4
Brian Wigginton, Sr VP Finance & CAO of Turning Point Brands, Inc., sold 3,500 shares of common stock at an average price of $75.75 and reported beneficial ownership of securities including common stock and options.
Summary
- On May 8, 2025, Brian Wigginton, Sr VP Finance & CAO of Turning Point Brands, Inc. (TPB), sold 3,500 shares of common stock at $75.75 per share.
- The sale was executed at prices ranging from $75.71 to $75.94.
- Following the transaction, Wigginton directly owns 10,171 shares, which includes 5,948 restricted stock units and 4,223 shares of common stock.
- Wigginton also holds options to purchase shares of common stock at various exercise prices and expiration dates, granted under the company's 2015 and 2021 Equity Incentive Plans.
- These options vest in installments, typically over a three-year period from January 1 of the grant year.
Sentiment
Score: 5
Explanation: This is a neutral disclosure of insider trading activity. It doesn't inherently indicate positive or negative sentiment about the company's prospects.
Industry Context
This filing is a routine disclosure of insider trading activity, which is common for executives of publicly traded companies. It provides transparency to investors regarding the buying and selling of company stock by its leadership.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies in compliance with SEC regulations.
- The information provided is consistent with what is expected for insider trading disclosures.
Stakeholder Impact
- The sale of shares by an executive could be perceived negatively by some shareholders, but it is a common occurrence and doesn't necessarily indicate a lack of confidence in the company.
- The disclosure provides transparency to all stakeholders regarding insider trading activity.
Key Dates
| Date | Description |
|---|---|
| 01/01/2018 | Options vest and become exercisable as to 34% of the underlying shares granted on 05/15/2027 at $15.41. |
| 01/01/2019 | Options vest and become exercisable as to 34% of the underlying shares granted on 03/07/2028 at $21.21 and 05/15/2027 at $15.41. |
| 01/01/2020 | Options vest and become exercisable as to 34% of the underlying shares granted on 03/20/2029 at $47.58, 03/07/2028 at $21.21 and 05/15/2027 at $15.41. |
| 01/01/2021 | Options vest and become exercisable as to 34% of the underlying shares granted on 02/18/2031 at $51.75 and 03/20/2029 at $47.58. |
| 01/01/2022 | Options vest and become exercisable as to 34% of the underlying shares granted on 05/17/2031 at $45.05 and 02/18/2031 at $51.75. |
| 01/01/2023 | Options vest and become exercisable as to 34% of the underlying shares granted on 03/14/2032 at $30.46 and 05/17/2031 at $45.05. |
| 01/01/2024 | Options vest and become exercisable as to 33% of the underlying shares granted on 03/14/2032 at $30.46. |
| 01/01/2025 | Options vest and become exercisable as to 33% of the underlying shares granted on 03/14/2032 at $30.46. |
| 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. |
| 05/17/2031 | Expiration date for options with an exercise price of $45.05. |
| 03/14/2032 | Expiration date for options with an exercise price of $30.46. |
| 05/08/2025 | Brian Wigginton sold 3,500 shares of common stock at an average price of $75.75. |
| 05/09/2025 | Date of signature for the Form 4 filing. |
Keywords
Form 4, insider trading, Brian Wigginton, Turning Point Brands, TPB, stock options, common stock, securities, beneficial ownership
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