Form 4: Watts Water Technologies General Counsel Kenneth Lepage Reports Stock Transactions
SEC Form 4 Filing
Kenneth Lepage, General Counsel of Watts Water Technologies, reports acquisition of restricted stock units and disposition of shares to cover tax obligations.
Summary
- Kenneth Robert Lepage, General Counsel of Watts Water Technologies, filed a Form 4 detailing changes in beneficial ownership.
- On March 14, 2025, Lepage acquired 1,267 shares of Class A Common Stock at $168.80 per share through the Management Stock Purchase Plan.
- These shares are subject to restricted stock units that vest in three equal annual installments starting one year after the grant date.
- Also on March 14, 2025, 287 shares were disposed of at $211 to cover taxes upon the vesting of a deferred stock award granted on March 14, 2024.
- On March 17, 2025, 374 shares were disposed of at $213.98 to cover taxes upon the vesting of a deferred stock award granted on March 15, 2022.
- Additionally, on March 17, 2025, 1,005 shares were withheld at $213.98 to cover tax obligations related to the vesting of restricted stock units purchased on March 15, 2022.
- Following these transactions, Lepage beneficially owns 15,367 shares of Class A Common Stock.
Sentiment
Score: 6
Explanation: Neutral sentiment as the filing reflects routine transactions related to executive compensation and tax obligations.
Positives
- Lepage's participation in the Management Stock Purchase Plan demonstrates confidence in the company's future.
Future Outlook
The restricted stock units vest in three equal annual installments beginning one year after the date of grant.
Industry Context
Form 4 filings are a routine part of insider trading regulations, providing transparency into the transactions of company executives. This filing indicates standard compensation practices and tax-related stock dispositions.
Comparison to Industry Standards
- Similar stock purchase plans and RSU grants are common among publicly traded companies to incentivize and retain key personnel.
- Tax-related stock dispositions are a standard practice when RSUs vest, ensuring compliance with tax regulations.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders, as they are related to executive compensation and tax obligations.
Key Dates
| Date | Description |
|---|---|
| 03/15/2022 | Date of restricted stock units purchase under MSPP |
| 03/14/2024 | Date of deferred stock award grant |
| 03/14/2025 | Acquisition of shares through Management Stock Purchase Plan and disposition of shares for tax obligations |
| 03/17/2025 | Disposition of shares for tax obligations |
| 03/18/2025 | Date of Form 4 signature |
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