Form 4: Whirlpool Executive Carey Martin Reports Stock Transactions

EVP and Chief HR Officer Carey Martin reports stock transactions including vesting of restricted stock units, tax withholding, and deferral of shares.

Summary

• Carey Martin, EVP & Chief HR Officer of Whirlpool Corp, reported changes in beneficial ownership of company stock on March 1, 2024.
• The transactions include the vesting of 4,971 performance-based restricted stock units, which were granted under the Whirlpool Corporation Omnibus Stock and Incentive Plan.
• 794.85 shares were disposed of to cover tax obligations at a price of $107.39 per share.
• Martin deferred the receipt of 2,401.15 shares of common stock into Whirlpool's Executive Deferred Savings Plan II.
• Following these transactions, Martin directly owns 25,336.95 shares of common stock and indirectly owns 66.6 shares through a 401(k) Stock Fund, as well as 19,891.81 shares of deferred stock.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing stock transactions, with no inherent positive or negative sentiment. It's a neutral disclosure of information.

Future Outlook

The deferred stock is payable following the reporting person's termination of employment with Whirlpool Corporation.

Industry Context

This filing is a routine disclosure of stock transactions by a company executive, which is common practice for publicly traded companies. It provides transparency into the executive's holdings and transactions in the company's stock.

Comparison to Industry Standards

• Executive compensation packages often include restricted stock units that vest over time based on performance or tenure, similar to the arrangement described in this filing.
• Deferral of stock into savings plans is a common practice among executives to manage taxes and retirement savings.
• Companies like General Electric (GE) and Samsung also have similar executive compensation and stock ownership reporting requirements.

Stakeholder Impact

• The transactions may have a minor impact on shareholders due to the change in ownership, but the overall effect is likely negligible.
• Employees may be interested in the executive's stock transactions as an indicator of company performance and management's confidence.

Key Dates