Form 4: Watts Water Technologies CFO Disposes of Shares to Cover Tax Obligations
SEC Form 4 Filing
Watts Water Technologies' CFO, Shashank Patel, disposed of shares to cover tax obligations related to vesting deferred stock awards and restricted stock units.
Summary
- On March 15, 2024, Shashank Patel, the Chief Financial Officer of Watts Water Technologies Inc., disposed of 446 shares of Class A Common Stock at a price of $204.04 to cover taxes upon the vesting of a deferred stock award granted on March 15, 2022.
- Additionally, Patel disposed of 945 shares of Class A Common Stock at the same price to cover tax withholding obligations related to the vesting of restricted stock units (RSUs) purchased under the Issuer's Management Stock Purchase Plan (MSPP) on March 15, 2021.
- Following these transactions, Patel beneficially owns 21,712 shares of Class A Common Stock.
Sentiment
Score: 5
Explanation: The document describes routine transactions related to tax obligations, so it doesn't significantly impact sentiment. It's a neutral event.
Industry Context
Executive stock transactions are routinely monitored by investors as they can provide insights into management's perspective on the company's valuation and future prospects. However, in this case, the transactions are explicitly stated to be non-discretionary and related to tax obligations, reducing their significance as an indicator of management sentiment.
Key Dates
| Date | Description |
|---|---|
| 03/15/2021 | Date of restricted stock units (RSUs) purchase by the Reporting Person under the Issuer's Management Stock Purchase Plan (MSPP). |
| 03/15/2022 | Date of deferred stock award granted to the Reporting Person. |
| 03/15/2024 | Date of transaction: Disposal of shares to cover tax obligations. |
| 03/18/2024 | Date of signature by Attorney-in-Fact. |
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