SPX Technologies (NYSE: SPXC) CAO reports stock grant and tax-share disposal
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
SPX Technologies, Inc. chief accounting officer Wayne M. McLaren reported routine equity compensation activity involving company common stock. He acquired 662 shares through a grant of restricted stock units under the SPX 2019 Stock Compensation Plan, at no cash cost. Separately, 80 shares were delivered back to SPX at a price of $225.02 per share to cover withholding taxes due on the vesting of previously granted restricted stock units, a tax-withholding disposition rather than an open-market sale. After these transactions, he held 7,770 shares directly, and 697 shares indirectly through a 401(k) plan, which includes unvested restricted stock units.
Positive
- None.
Negative
- None.
Insider Trade Summary
3 transactions reported
Mixed
3 txns
Insider
McLaren Wayne M.
Role
CHIEF ACCOUNTING OFFICER
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Common Stock | 80 | $225.02 | $18K |
| Grant/Award | Common Stock | 662 | $0.00 | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 7,770 shares (Direct);
Common Stock — 697 shares (Indirect, 401 (k) Plan)
Footnotes (1)
- Grant of restricted stock units under the SPX 2019 Stock Compensation Plan. Includes unvested restricted stock units. Shares delivered to the issuer for the payment of withholding taxes due upon the vesting of restricted stock units previously granted under the SPX 2019 Stock Compensation Plan.
FAQ
What insider transactions did SPXC’s chief accounting officer report on this Form 4?
The chief accounting officer reported a grant of 662 restricted stock units and a separate disposition of 80 shares used to pay withholding taxes on vested units, both involving SPX Technologies common stock under the SPX 2019 Stock Compensation Plan.
How does the SPX 2019 Stock Compensation Plan relate to this SPXC Form 4 filing?
The SPX 2019 Stock Compensation Plan is the source of both the 662-share restricted stock unit grant and the previously granted units that vested. Those vestings triggered the 80-share tax-withholding delivery back to SPX Technologies reported in this Form 4.
Does this SPXC Form 4 indicate a change in the insider’s investment intent?
The Form 4 reflects routine compensation and tax-withholding activity, not a discretionary market trade. One transaction is a stock grant, and the other is shares delivered for tax obligations when restricted stock units vested at SPX Technologies, Inc.