Form 4: Wesco International CEO John Engel Reports Stock Transactions
SEC Form 4
Wesco International's CEO, John Engel, reports acquisition and disposal of company stock related to performance share awards and tax withholdings.
Summary
- On February 13, 2025, John Engel, the Chairman, President, and CEO of Wesco International Inc., acquired 29,217 shares of common stock upon settlement of a performance share award.
- These performance share awards were granted on February 17, 2022, under the company's long-term incentive plan and represent a contingent right to receive shares if specified performance goals were achieved during the three-year period ending December 31, 2024.
- Also on February 13, 2025, 12,707 shares were disposed of to cover tax withholding on the settlement of these performance share awards at a price of $193.67.
- On February 16, 2025, 1,547 shares were disposed of to cover tax withholding on the vesting of RSUs granted on February 16, 2023 at a price of $196.85.
- On February 17, 2025, 1,956 shares were disposed of to cover tax withholding on the vesting of RSUs granted on February 17, 2022 at a price of $196.85.
- Following these transactions, Engel directly owns 465,108.633 shares of Wesco International Inc. common stock.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions. It doesn't convey strong positive or negative sentiment.
Positives
- The vesting of performance share awards indicates that the company met certain performance goals during the three-year period ending December 31, 2024.
Industry Context
This filing is a routine disclosure of insider transactions and provides limited insight into broader industry trends.
Stakeholder Impact
- The vesting of performance share awards could be viewed positively by shareholders as it indicates the company achieved its performance goals.
Key Dates
| Date | Description |
|---|---|
| 02/17/2022 | Date of grant for performance share award. |
| 02/17/2022 | Date of grant for RSUs. |
| 02/16/2023 | Date of grant for RSUs. |
| 12/31/2024 | End of the three-year performance period for the performance share award. |
| 02/13/2025 | Date of common stock acquisition and disposal for tax withholding. |
| 02/16/2025 | Date of common stock disposal for tax withholding. |
| 02/17/2025 | Date of common stock disposal for tax withholding. |
| 02/18/2025 | Date of signature for the Form 4 filing. |
Keywords
Wesco International, John Engel, Form 4, insider trading, performance share award, RSUs, tax withholding, common stock, beneficial ownership
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