Form 4: Universal Corp Executive Reports Stock Disposal for Tax Obligations

Catherine H. Claiborne, VP, Gen. Counsel & Secretary of Universal Corp, disposed of 1,195 shares to cover withholding taxes related to vested restricted stock units.

Summary

• Catherine H. Claiborne, a VP, Gen. Counsel & Secretary at Universal Corp, filed a Form 4 on May 28, 2024, reporting a transaction on May 23, 2024.
• She disposed of 1,195 shares of common stock to satisfy withholding taxes related to previously granted restricted stock units that vested on May 23, 2024.
• The shares were disposed of at a price of $46.52 per share.
• Following the transaction, Claiborne beneficially owns 19,685 shares, including 9,300 restricted stock units and 1,541 dividend equivalent units earned on the restricted stock units.
• The report also mentions shares acquired through the Dividend Reinvestment Plan that were not previously reported.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing related to insider stock transactions for tax purposes, indicating a neutral sentiment.

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 practice of covering tax obligations related to vested equity.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine disposal of shares for tax purposes.

Key Dates