Form 4: W. P. Carey CEO Jason Fox Reports Stock Disposals for Tax Obligations
SEC Form 4 Filing
CEO Jason Fox reports disposals of W. P. Carey Inc. common stock to cover tax liabilities related to vested Restricted Stock Units.
Summary
- On February 15, 2025, Jason E. Fox, CEO and President of W. P. Carey Inc., disposed of 7,812 shares of common stock at a price of $58.69 to cover tax liabilities.
- These shares were withheld in connection with the settlement of partnership equity unit plan awards that were converted to Restricted Stock Units (RSUs) on June 15, 2009, which vested in full on that date but were deferred until February 15, 2025.
- Additionally, 19 shares were disposed of at the same price to cover tax liabilities related to the vesting and settlement of RSUs originally granted on November 9, 2022, with a three-year vesting period beginning on February 15, 2023.
- Following these transactions, Fox directly owns 1,026,269 shares of W. P. Carey Inc. common stock.
- Fox also indirectly owns 1,211.5774 shares through his son and 88.301 shares through his daughter.
Sentiment
Score: 6
Explanation: The sentiment is neutral as the filing simply reports stock disposals for tax purposes, which is a routine event. There is no indication of positive or negative implications for the company's performance.
Industry Context
Form 4 filings are standard disclosures required by the SEC when company insiders, like CEOs and directors, trade their company's stock; this provides transparency to the market.
Comparison to Industry Standards
- Comparing insider transactions to other REITs (Real Estate Investment Trusts) such as Simon Property Group (SPG) or Prologis (PLD) shows similar patterns of stock disposals for tax obligations related to equity compensation.
- These transactions are a normal part of executive compensation and are generally viewed in the context of overall ownership and company performance.
Stakeholder Impact
- The stock disposal has a minimal impact on shareholders as it is a small percentage of the CEO's overall holdings and is related to tax obligations.
- Employees are not directly impacted by this transaction.
Key Dates
| Date | Description |
|---|---|
| June 15, 2009 | Partnership equity unit plan awards were converted to Restricted Stock Units (RSUs), which vested in full on this date but were deferred. |
| November 9, 2022 | RSUs were originally granted with a three-year vesting period. |
| February 15, 2023 | Start of the three-year vesting period for RSUs granted on November 9, 2022. |
| February 15, 2025 | Disposal of shares to cover tax liabilities related to vested RSUs. |
| February 19, 2025 | Date of signature for the SEC Form 4 filing. |
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