ITT (NYSE: ITT) CEO sells 63,450 shares following major stock grants
Rhea-AI Filing Summary
ITT Inc. President and CEO Luca Savi reported a series of stock transactions involving company common shares. On March 3–4, 2026, he acquired shares through equity awards, including 52,878 shares from performance units settled under ITT’s incentive plan and additional restricted stock unit grants of 35,400 and 10,540 shares.
Also on March 3, 23,897 shares and 9,287 shares were withheld to cover tax liabilities tied to those vestings. On March 5, 2026, he conducted open‑market sales totaling 63,450 shares at prices reflected in weighted‑average sale prices between $188.48 and $194.38 per share. After these transactions, he directly held 262,354 shares of ITT common stock. A footnote states the sales were made to facilitate his purchase of a new personal residence near ITT’s headquarters.
Positive
- None.
Negative
- None.
Insights
CEO balances large equity grants with tax withholding and net share sales.
The transactions show Luca Savi receiving substantial equity-based compensation while also selling shares. He acquired blocks of 52,878, 35,400, and 10,540 shares via performance unit settlements and restricted stock unit awards, consistent with long-term incentive and retention structures described in the footnotes.
To cover tax liabilities on these vestings, he disposed of 23,897 and 9,287 shares through share withholding, a common non‑cash mechanism. He then executed open‑market sales totaling 63,450 shares at weighted‑average prices between $188.48 and $194.38 per share, while remaining directly invested with 262,354 shares.
A key disclosure notes the sales are intended to facilitate the purchase of a new personal residence near ITT’s headquarters, framing them as a personal liquidity event rather than a change in view on the company. The overall pattern reflects both continued equity exposure and some monetization of holdings, with implications best interpreted alongside future Form 4 filings and broader compensation disclosures.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 7,864 | $188.981 | $1.49M |
| Sale | Common Stock | 21,067 | $189.9383 | $4.00M |
| Sale | Common Stock | 19,838 | $190.8655 | $3.79M |
| Sale | Common Stock | 8,343 | $191.9861 | $1.60M |
| Sale | Common Stock | 5,010 | $192.8489 | $966K |
| Sale | Common Stock | 1,328 | $193.7113 | $257K |
| Grant/Award | Common Stock | 35,400 | $0.00 | -- |
| Grant/Award | Common Stock | 10,540 | $0.00 | -- |
| Grant/Award | Common Stock | 52,878 | $0.00 | -- |
| Tax Withholding | Common Stock | 23,897 | $190.39 | $4.55M |
| Tax Withholding | Common Stock | 9,287 | $190.39 | $1.77M |
Footnotes (1)
- Acquired upon the settlement of performance units granted under the ITT Inc. 2011 Omnibus Incentive Plan (the "Plan") on March 3, 2023 as a result of the satisfaction of the performance criteria underlying the award. Reflects the withholding of shares of common stock to pay the tax liability incident to the settlement of performance units on March 3, 2026, as described in footnote (1) above. The number of shares withheld was determined on March 3, 2026 based on the average of the high/low price of the issuer's common stock on March 3, 2026. Reflects the withholding of shares of common stock to pay the tax liability incident to the vesting on March 3, 2026 of restricted stock units granted under the Plan on March 3, 2023. The number of shares withheld was determined on March 3, 2026 based on the average of the high/low price of the issuer's common stock on March 3, 2026. Reflects a Performance-earned annual retention grant of restricted stock units pursuant to the ITT Inc. Chief Executive Officer Retention Plan and are scheduled to vest on December 31, 2028. Reflects an award of restricted stock units under the Plan, all of which are scheduled to vest on March 4, 2029. Reflects the weighted average sale price. The shares were sold in multiple transactions at prices ranging from a low of $188.48 to a high of $189.4650 per share, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth with respect to this transaction and all sale transactions reported in this Form 4 as described in footnotes 7-11 Reflects the weighted average sale price. The shares were sold in multiple transactions at prices ranging from a low of $189.4800 to a high of $190.4450 per share, inclusive. Reflects the weighted average sale price. The shares were sold in multiple transactions at prices ranging from a low of $190.4800 to a high of $191.4450 per share, inclusive. Reflects the weighted average sale price. The shares were sold in multiple transactions at prices ranging from a low of $191.4800 to a high of $192.4600 per share, inclusive. Reflects the weighted average sale price. The shares were sold in multiple transactions at prices ranging from a low of $192.4800 to a high of $193.3300 per share, inclusive. Reflects the weighted average sale price. The shares were sold in multiple transactions at prices ranging from a low of $193.6050 to a high of $194.3800 per share, inclusive. The sales are being made to facilitate the Reporting Person's purchase of a new personal residence near ITT Inc.'s headquarters.
