Form 4: Weyco Group Director Thomas W. Florsheim Reports Disposition of Shares to Trusts

Director Thomas W. Florsheim reports the disposition of Weyco Group shares to grantor retained annuity trusts (GRATs) for himself and his wife, while also holding direct and indirect ownership of common stock and stock options.

Summary

• Thomas W. Florsheim, a director of Weyco Group Inc., filed a Form 4 detailing changes in his beneficial ownership.
• On September 23, 2024, Florsheim disposed of 29,060 shares of common stock to a 2022 GRAT #3 for himself, of which his son is trustee, at a price of $0.
• On September 23, 2024, Florsheim disposed of 29,060 shares of common stock to a 2022 GRAT #3 for his wife, of which his son is trustee, at a price of $0.
• Following these transactions, Florsheim directly owns 3,050 shares of common stock.
• Florsheim indirectly owns 553,113 shares through a revocable trust and 77,688 shares through his wife.
• Florsheim also holds various stock options with different exercise prices and expiration dates.
• These stock options include 3,500 shares exercisable at $27.94 (expiring 08/25/2027), 2,000 shares at $37.22 (expiring 08/23/2028), 3,500 shares at $23.38 (expiring 08/14/2029), 3,500 shares at $18 (expiring 08/26/2030), 3,500 shares at $24 (expiring 08/25/2031), 3,500 shares at $28.83 (expiring 08/25/2032), and 3,500 shares at $25.79 (expiring 08/25/2033).
• The stock options vest at a rate of 20% per year over 5 years from their respective grant dates.

Sentiment

Score: 5

Explanation: This is a neutral filing related to standard transactions. The use of GRATs is a common estate planning technique and doesn't necessarily indicate positive or negative sentiment.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. The use of GRATs is a common estate planning technique.

Stakeholder Impact

• The disposition of shares to GRATs may have a minor impact on shareholders due to the change in ownership structure, but the overall impact is likely minimal.

Key Dates