Form 4: Weyco Group Director Thomas Florsheim Reports Stock Transfers and Option Holdings
SEC Form 4
Director Thomas Florsheim reports the disposition of shares to a GRAT and holdings of common stock and stock options in Weyco Group Inc.
Summary
- Thomas W. Florsheim, a director of Weyco Group Inc., filed a Form 4 detailing changes in his beneficial ownership of the company's securities.
- On March 19, 2024, Florsheim disposed of 14,920 shares of common stock each to the 2022 GRAT #3 for Self and the 2022 GRAT #3 for Wife, of which his son is Trustee, at a price of $0.
- Florsheim also reports beneficial ownership of 496,193 shares held in a revocable trust, 2,500 shares held directly, and 77,688 shares held by his wife.
- The filing also details Florsheim's holdings of various stock options with exercise prices ranging from $18 to $37.22, and expiration dates from 2027 to 2033.
- Each stock option grant vests at a rate of 20% per year over 5 years, starting from the grant date.
Sentiment
Score: 5
Explanation: This is a routine filing; the sentiment is neutral as it simply reports transactions.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders.
Stakeholder Impact
- The stock transfer to GRATs may have a minor impact on shareholders due to the change in ownership structure.
Key Dates
| Date | Description |
|---|---|
| 08/25/2018 | Start date for vesting of stock options at $27.94 |
| 08/23/2019 | Start date for vesting of stock options at $37.22 |
| 08/14/2020 | Start date for vesting of stock options at $23.38 |
| 08/26/2021 | Start date for vesting of stock options at $18 |
| 08/25/2022 | Start date for vesting of stock options at $24 |
| 08/25/2023 | Start date for vesting of stock options at $28.83 |
| 03/19/2024 | Date of stock transfer to GRATs |
| 08/25/2024 | Start date for vesting of stock options at $25.79 |
| 08/25/2027 | Expiration date for stock options at $27.94 |
| 08/23/2028 | Expiration date for stock options at $37.22 |
| 08/14/2029 | Expiration date for stock options at $23.38 |
| 08/26/2030 | Expiration date for stock options at $18 |
| 08/25/2031 | Expiration date for stock options at $24 |
| 08/25/2032 | Expiration date for stock options at $28.83 |
| 08/25/2033 | Expiration date for stock options at $25.79 |
| 03/20/2024 | Date of signature on the Form 4 |
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