Form 4: Weyco Group CEO Thomas Florsheim Jr. Transfers Shares to GRATs
SEC Form 4
Thomas W. Florsheim Jr., Chairman and CEO of Weyco Group Inc., reports the transfer of shares to Grantor Retained Annuity Trusts (GRATs) and discloses beneficial ownership of common stock and stock options.
Summary
- Thomas W. Florsheim Jr., Chairman and CEO of Weyco Group Inc., filed a Form 4 detailing changes in his beneficial ownership.
- On September 23, 2024, Florsheim transferred 29,060 shares of common stock to his Father's 2022 GRAT #3 and 29,060 shares to his Mother's 2022 GRAT #3.
- He also acquired 14,530 shares of common stock.
- Following these transactions, Florsheim directly owns 801,144 shares of common stock.
- He also indirectly owns shares through his wife (52,113), as trustee for his children (268,779), as trustee of the John Florsheim Family Trust (181,623), and in a 2018 Irrevocable Trust (94,619).
- Florsheim also holds multiple stock options with varying exercise prices and expiration dates, totaling 67,000 shares.
Sentiment
Score: 5
Explanation: This is a neutral filing, simply reporting transactions. The transfer to GRATs is a common estate planning strategy.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. Investors monitor these filings to gain insights into management's perspective on the company's stock.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in ownership structure, but the CEO's overall stake in the company remains significant.
Key Dates
| Date | Description |
|---|---|
| 08/25/2018 | First stock option grant exercisable date. |
| 08/23/2019 | Second stock option grant exercisable date. |
| 08/14/2020 | Third stock option grant exercisable date. |
| 08/26/2021 | Fourth stock option grant exercisable date. |
| 08/25/2022 | Fifth stock option grant exercisable date. |
| 08/25/2023 | Sixth stock option grant exercisable date. |
| 08/25/2024 | Seventh stock option grant exercisable date and transaction date. |
| 09/23/2024 | Date of the reported transaction. |
| 08/25/2027 | First stock option grant expiration date. |
| 08/23/2028 | Second stock option grant expiration date. |
| 08/14/2029 | Third stock option grant expiration date. |
| 08/26/2030 | Fourth stock option grant expiration date. |
| 08/25/2031 | Fifth stock option grant expiration date. |
| 08/25/2032 | Sixth stock option grant expiration date. |
| 08/25/2033 | Seventh stock option grant expiration date. |
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