Form 4: Universal Corp CEO George C. Freeman III Reports Stock Disposal to Cover Tax Obligations

George C. Freeman III, Chairman, President & CEO of Universal Corp, disposed of 9,249 shares of common stock on May 28, 2024, to cover withholding taxes related to vested restricted stock units.

Summary

• On May 28, 2024, George C. Freeman III, Chairman, President & CEO of Universal Corp, reported a transaction involving the disposal of 9,249 shares of common stock.
• The shares were surrendered to the company to satisfy withholding taxes related to restricted stock units that vested on May 27, 2024.
• The transaction was executed at a price of $46.96 per share.
• Following the transaction, Freeman directly owns 317,674 shares, which includes 80,213 restricted stock units and 32,359 dividend equivalent units earned on the restricted stock units.
• Freeman also indirectly owns 200 shares each through his oldest daughter, youngest daughter, and as UGMA custodian for his son.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing a routine stock transaction for tax purposes. It doesn't inherently convey positive or negative sentiment.

Industry Context

This is a routine Form 4 filing, which is common for corporate executives who receive stock-based compensation. It reflects the standard practice of selling shares to cover tax obligations upon vesting of restricted stock units.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine sale to cover tax obligations.

Key Dates