Form 4: Westinghouse Air Brake Technologies Corp: Officer Leroux Lilian Reports Stock Transactions
SEC Form 4 Filing
Lilian Leroux, President of the Transit Group at Westinghouse Air Brake Technologies Corp, reports the acquisition and disposal of common stock and phantom stock on March 1, 2024.
Summary
- On March 1, 2024, Lilian Leroux, President of the Transit Group at Westinghouse Air Brake Technologies Corp (WAB), reported transactions involving the company's common stock and phantom stock.
- Leroux acquired 2,803 shares of common stock through the vesting of stock awards at $0 and disposed of 2,803 shares at a price of $141.6175.
- Additionally, Leroux acquired 833 shares of common stock through the vesting of stock awards at $0.
- Regarding derivative securities, Leroux acquired and disposed of phantom stock, which is the economic equivalent of WAB common stock.
- These phantom stock transactions involved 1,130 shares vesting on March 1, 2022, 840 shares vesting on March 1, 2023, and 833 shares vesting on March 1, 2024.
- Following these transactions, Leroux directly owns 15,136 shares of common stock and holds derivative securities including 840 shares vesting on March 1, 2025 and 1,666 shares vesting on March 1, 2026.
Sentiment
Score: 5
Explanation: This is a neutral report on stock transactions by an officer. It doesn't inherently indicate positive or negative sentiment, but rather provides factual information.
Positives
- The vesting of stock and phantom stock indicates that Leroux is meeting the conditions of her compensation package.
Industry Context
This Form 4 filing is a routine disclosure required by the SEC for corporate insiders, providing transparency into their trading activities. It's a standard practice for officers of publicly traded companies.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies and their insiders.
- The vesting schedules for phantom stock are typical compensation mechanisms used to align management interests with long-term shareholder value.
Stakeholder Impact
- The transactions may have a minor impact on shareholders by slightly diluting the stock.
Key Dates
| Date | Description |
|---|---|
| 03/01/2022 | Phantom Stock vests at 33.33% per year beginning March 1, 2022. |
| 03/01/2023 | Phantom Stock vests at 33.33% per year beginning March 1, 2023. |
| 03/01/2024 | Date of earliest transaction and phantom stock vests at 33.33% per year beginning March 1, 2024. |
| 03/05/2024 | Date of signature for the report. |
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