Form 4: Universal Stainless & Alloy Products CEO Exercises Stock Options and Sells Shares
SEC Form 4
Universal Stainless & Alloy Products CEO, Christopher M. Zimmer, exercised stock options and sold shares to cover the exercise price and taxes.
Summary
- Christopher M. Zimmer, the President and CEO of Universal Stainless & Alloy Products Inc., executed a transaction involving company stock on November 19, 2024.
- Mr. Zimmer exercised 7,500 stock options at a price of $26.14 per share.
- Following the exercise, 4,449 shares were sold at $44.07 per share to cover the exercise price and applicable taxes.
- After these transactions, Mr. Zimmer directly owns 169,691 shares of Universal Stainless & Alloy Products Inc.
Sentiment
Score: 5
Explanation: The document reflects a routine transaction, not indicative of positive or negative sentiment. It's a standard executive stock option exercise and sale.
Industry Context
This is a routine transaction for a company executive and is a common practice for executives who receive stock options as part of their compensation.
Comparison to Industry Standards
- Executive stock option exercises and subsequent sales to cover taxes are standard practice across publicly traded companies.
- The pricing of the options and the sale price are consistent with market conditions at the time of the transactions.
- Similar transactions are regularly reported by executives at comparable companies.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a standard executive compensation activity.
Key Dates
| Date | Description |
|---|---|
| 11/19/2015 | 1875 stock options became exercisable. |
| 11/19/2016 | 1875 stock options became exercisable. |
| 11/19/2017 | 1875 stock options became exercisable. |
| 11/19/2018 | 1875 stock options became exercisable. |
| 11/18/2024 | Closing price of $44.07 used for tax withholding calculation. |
| 11/19/2024 | Date of stock option exercise and share sale. |
| 11/20/2024 | Date of signature on the Form 4. |
Keywords
stock options, insider trading, executive compensation, share transaction, Form 4, USAP
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