Timken (NYSE: TKR) CFO sells shares after exercising stock options
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Timken executive vice president and chief financial officer Michael Anthony Discenza exercised employee stock options and sold shares of common stock. He converted 1,825 stock options into 1,825 common shares at $44.65 per share, then used 293 shares at $109.59 per share to cover tax obligations. He also executed an open-market sale of 1,532 common shares at a weighted average price of $109.59 per share, leaving him with 17,877 directly held Timken shares after these transactions.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 1,532 shares ($167,892)
Net Sell
4 txns
Insider
Discenza Michael Anthony
Role
EVP, Chief Financial Officer
Sold
1,532 shs ($168K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Employee Stock Option (right to buy) | 1,825 | $0.00 | -- |
| Exercise | Common Stock | 1,825 | $44.65 | $81K |
| Tax Withholding | Common Stock | 293 | $109.59 | $32K |
| Sale | Common Stock | 1,532 | $109.59 | $168K |
Holdings After Transaction:
Employee Stock Option (right to buy) — 0 shares (Direct);
Common Stock — 19,702 shares (Direct)
Footnotes (1)
- This transaction was executed in multiple trades at prices ranging from $109.58 to $109.62. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected. 1,825 stock options from 2/12/2018 grant of 5,650 stock options that vested in 25% increments per year from the date of grant.
FAQ
What did Timken (TKR) CFO Michael Discenza do in this Form 4 filing?
Timken CFO Michael Discenza exercised 1,825 employee stock options and received 1,825 common shares. He then disposed of 293 shares for tax withholding and sold 1,532 shares in the open market, ending with 17,877 directly owned Timken shares.
How many Timken (TKR) stock options did the CFO exercise and at what price?
Michael Discenza exercised 1,825 employee stock options, converting them into 1,825 Timken common shares. The exercise price reported for these options was $44.65 per share, reflecting terms from a 2018 stock option grant that vested in annual increments.