Form 4: Zurn Elkay Water Solutions Corp: Officer Mark W. Peterson Reports Stock Transactions
SEC Form 4 Filing
Mark W. Peterson, Chief Administrative Officer of Zurn Elkay Water Solutions Corp, reports acquisition of shares through vesting of performance stock units and subsequent sale to cover tax obligations.
Summary
- Mark W. Peterson, a Chief Administrative Officer at Zurn Elkay Water Solutions Corp, filed a Form 4 detailing changes in beneficial ownership.
- On November 6, 2024, Peterson acquired 45,386 shares of common stock due to the vesting of performance stock units based on the company's performance over a three-year period from October 5, 2021, to September 30, 2024.
- On November 7, 2024, Peterson sold 22,203 shares of common stock at a weighted average price of $39.15 to satisfy tax withholding obligations and related fees.
- Following these transactions, Peterson directly owns 383,910 shares of common stock and indirectly owns 4,921 shares through a 401(k) plan.
- Peterson also holds options to buy 33,481 shares of common stock at an exercise price of $33.05, which are fully vested.
Sentiment
Score: 6
Explanation: Neutral sentiment as the transactions are routine and related to compensation and tax obligations. The vesting of performance stock units is a positive sign, but the sale of shares is a neutral event.
Positives
- The vesting of performance stock units suggests that Zurn Elkay Water Solutions Corp met certain performance targets during the three-year performance period.
Negatives
- The sale of shares to cover tax obligations could be perceived negatively, although it is a common practice.
Industry Context
Form 4 filings are a routine part of the regulatory landscape for publicly traded companies, providing transparency into the transactions of company insiders. These filings are closely watched by investors seeking insights into management's perspective on the company's stock.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect routine insider activity related to compensation.
Key Dates
| Date | Description |
|---|---|
| October 5, 2021 | Start date of the three-year performance period for the performance stock units. |
| September 30, 2024 | End date of the three-year performance period for the performance stock units. |
| November 6, 2024 | Date of acquisition of 45,386 shares due to vesting of performance stock units. |
| November 7, 2024 | Date of sale of 22,203 shares to cover tax obligations. |
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