Form 4: Vulcan Materials CEO J. Thomas Hill Executes Stock Appreciation Rights, Sells Shares Under 10b5-1 Plan
SEC Form 4
Vulcan Materials CEO J. Thomas Hill exercised stock appreciation rights and sold shares on November 7, 2024, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- On November 7, 2024, J. Thomas Hill, Chairman & CEO of Vulcan Materials Co., executed stock appreciation rights and sold shares of common stock.
- The transactions were conducted under a Rule 10b5-1 trading plan adopted on March 14, 2024.
- Hill acquired 32,100 shares at a price of $92.02 through the exercise of stock appreciation rights.
- He then sold 12,204 shares at $290.56 per share.
- An additional 19,896 shares were sold at $290.45 per share to cover tax withholding and the cost of the options.
- Following these transactions, Hill directly owns 29,530.665 shares of common stock and indirectly owns 34,472.1 shares through a 401k.
- He also holds stock appreciation rights for 0.00 shares.
Sentiment
Score: 5
Explanation: The sentiment is neutral. The transactions are part of a pre-planned trading strategy, and there's no indication of unusual activity or concern.
Positives
- The transactions were conducted under a pre-arranged Rule 10b5-1 trading plan, which can mitigate concerns about insider trading.
Industry Context
Insider transactions are common and closely watched in the construction materials industry. Investors often analyze these filings to gauge management's sentiment about the company's prospects.
Comparison to Industry Standards
- Monitoring insider transactions is a standard practice in the financial industry.
- Comparing Hill's transactions to those of executives at companies like Martin Marietta Materials (MLM) or Summit Materials (SUM) could provide additional context.
- The use of a 10b5-1 plan is a common and accepted method for insiders to manage their stock transactions.
Stakeholder Impact
- The transactions could have a minor impact on shareholders, depending on how they interpret the insider selling activity.
- The impact on employees, customers, suppliers, and creditors is likely to be negligible.
Key Dates
| Date | Description |
|---|---|
| 02/12/2017 | Stock-Only Stock Appreciation Rights vested in four equal annual installments beginning on this date. |
| 02/14/2023 | Date of Power of Attorney execution. |
| 03/14/2024 | Date the reporting person adopted a Rule 10b5-1 trading plan. |
| 11/07/2024 | Date of the reported transactions (exercise of stock appreciation rights and sale of shares). |
| 02/12/2026 | Expiration date of the Stock-Only Stock Appreciation Rights. |
| 11/08/2024 | Date of signature of the Form 4 by Attorney-In-Fact. |
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