Form 4: Weyco Group CEO Thomas Florsheim Jr. Exercises Stock Options and Disposes of Shares
SEC Form 4
Thomas Florsheim Jr., Chairman and CEO of Weyco Group Inc., executed stock options and disposed of shares to cover tax obligations, resulting in adjustments to his beneficial ownership.
Summary
- On November 7, 2024, Thomas W. Florsheim Jr., Chairman and CEO of Weyco Group Inc., exercised stock options to acquire 15,000 shares at $27.94 and 10,000 shares at $23.38.
- Florsheim also disposed of 19,728 shares to satisfy tax obligations at a price of $41.04.
- Following these transactions, Florsheim directly owns 806,416 shares of Weyco Group Inc.
- He also indirectly owns shares through his wife, as trustee for his children, as trustee of the John Florsheim Family Trust, and held in a 2018 Irrevocable Trust, totaling 637,384 shares.
- Florsheim continues to hold options for various amounts of shares at prices ranging from $18 to $37.22, exercisable over the next several years.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the document simply reports transactions related to stock options and tax obligations, without indicating any strong positive or negative outlook.
Industry Context
This filing is a routine disclosure of insider transactions, which are common for executives who receive stock options as part of their compensation. These transactions provide insight into management's perspective on the company's value, although option exercises and sales for tax purposes are not always indicative of their sentiment.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in the number of shares held by the CEO.
- Employees may be interested in the CEO's transactions as it relates to the company's performance and executive compensation.
Key Dates
| Date | Description |
|---|---|
| 08/25/2018 | Start date for 20% per year vesting of stock options for 5 years. |
| 08/23/2019 | Start date for 20% per year vesting of stock options for 5 years. |
| 08/14/2020 | Start date for 20% per year vesting of stock options for 5 years. |
| 08/26/2021 | Start date for 20% per year vesting of stock options for 5 years. |
| 08/25/2022 | Start date for 20% per year vesting of stock options for 5 years. |
| 08/25/2023 | Start date for 20% per year vesting of stock options for 5 years. |
| 08/25/2024 | Start date for 20% per year vesting of stock options for 5 years. |
| 11/07/2024 | Date of stock option exercise and share disposal. |
| 08/25/2027 | Expiration date of stock options. |
| 08/23/2028 | Expiration date of stock options. |
| 08/14/2029 | Expiration date of stock options. |
| 08/26/2030 | Expiration date of stock options. |
| 08/25/2031 | Expiration date of stock options. |
| 08/25/2032 | Expiration date of stock options. |
| 08/25/2033 | Expiration date of stock options. |
| 11/12/2024 | Date of Form 4 filing. |
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