Form 4: Turning Point Brands Executive Summer Frein Reports Stock Transactions
SEC Form 4 Filing
Summer Frein, Chief Revenue Officer of Turning Point Brands, reports multiple transactions involving common stock and derivative securities, including acquisitions, disposals, and vesting of restricted stock units.
Summary
- On March 3, 2025, Summer Frein, Chief Revenue Officer of Turning Point Brands, engaged in several transactions involving the company's stock.
- These transactions included the acquisition of common stock through the vesting of restricted stock units and performance restricted stock units, as well as the disposal of shares to cover tax obligations.
- Frein acquired 2,175 shares, 650 shares, 2,063 shares and 1,730 shares of common stock at a price of $70.34 per share.
- She also disposed of 1,512 shares and 1,710 shares to cover tax obligations related to vested restricted stock units and performance restricted stock units at a price of $70.34 per share.
- Following these transactions, Frein directly owns 20,599 shares of common stock and 6,273 options.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the document simply reports required insider trading activity. There is no indication of positive or negative sentiment towards the company's prospects.
Industry Context
This Form 4 filing is a routine disclosure required by the SEC for corporate insiders, providing transparency into their trading activities and beneficial ownership of company stock. It allows investors to monitor the actions of key executives and their alignment with company performance.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies and their insiders, ensuring compliance with SEC regulations.
- The vesting schedules and terms of the equity incentive plan are typical for executive compensation packages in similar-sized companies.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect routine executive compensation and tax obligations.
- Employees may be indirectly affected by the vesting of equity awards, which can influence motivation and retention.
Key Dates
| Date | Description |
|---|---|
| 01/01/2023 | 34% of options granted under the 2021 Equity Incentive Plan vest. |
| 01/01/2024 | 33% of options granted under the 2021 Equity Incentive Plan vest. |
| 01/01/2025 | 33% of options granted under the 2021 Equity Incentive Plan vest. |
| 03/03/2025 | Date of earliest transaction: Acquisition and disposal of Turning Point Brands common stock. |
| 03/03/2025 | Performance criteria met for performance restricted stock units granted in March 2022, May 2023 and March 2024. |
| 03/05/2025 | Date of Form 4 filing. |
| 04/29/2032 | Expiration date of options granted under the Turning Point Brands, Inc. 2021 Equity Incentive Plan. |
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