Form 4: Zurn Elkay Water Solutions Corp: Officer Reports Stock Transactions
SEC Form 4 Filing
Sudhanshu Chhabra, VP of Zurn Business Systems, reports acquisition and disposal of Zurn Elkay Water Solutions Corp stock due to vesting of performance stock units and tax obligations.
Summary
- On November 6, 2024, Sudhanshu Chhabra acquired 6,808 shares of Zurn Elkay Water Solutions Corp common stock due to the vesting of performance stock units.
- These units vested based on the company's performance over a three-year period from October 5, 2021, to September 30, 2024.
- On November 7, 2024, Chhabra sold 2,268 shares at a weighted average price of $39.15 to cover tax withholding obligations related to the vesting.
- Following these transactions, Chhabra directly owns 84,937 shares and indirectly owns 1,762 shares through a 401(k) plan.
- Chhabra also holds options to buy 134,842 shares at prices ranging from $9.69 to $33.05, all of which are fully vested.
Sentiment
Score: 5
Explanation: The sentiment is neutral as it simply reports stock transactions by an officer, which are driven by vesting schedules and tax obligations rather than a directional view on the company's prospects.
Industry Context
This Form 4 filing is a routine disclosure required by the SEC for corporate insiders, providing transparency into their trading activities. It doesn't necessarily reflect broader industry trends but offers insight into the actions of a key executive at Zurn Elkay Water Solutions Corp.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the increased number of shares in the market, but the effect is likely minimal given the relatively small volume of shares sold.
Key Dates
| Date | Description |
|---|---|
| 10/05/2021 | Start date of the three-year performance period for performance stock units. |
| 09/30/2024 | End date of the three-year performance period for performance stock units. |
| 11/06/2024 | Date of acquisition of shares upon vesting of performance stock units. |
| 11/07/2024 | Date of sale of shares to satisfy tax withholding obligations. |
| 05/20/2026 | Expiration date of stock options with an exercise price of $9.69. |
| 05/19/2027 | Expiration date of stock options with an exercise price of $11.37. |
| 05/25/2028 | Expiration date of stock options with an exercise price of $14.22. |
| 10/05/2031 | Expiration date of stock options with an exercise price of $33.05. |
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