WESCO International (NYSE: WCC) SVP exercises stock rights and trims holdings
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
WESCO International senior executive Matthew S. Kulasa exercised stock appreciation rights and adjusted his shareholdings in the company. On the transaction date, he exercised 1,780 stock appreciation rights, converting them into 1,780 shares of common stock at a price of $86.91 per share. The stock appreciation rights had vested in three equal annual installments beginning on the first anniversary of the April 16, 2021 grant date.
Following the exercise, he disposed of 513 shares to the issuer and 417 shares to cover tax obligations, both at $301.74 per share, and sold 73 shares in an open-market transaction at $307.03 per share. After these transactions, he directly owned 4,018.5679 shares of WESCO International common stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 73 shares ($22,413)
Net Sell
5 txns
Insider
Kulasa Matthew S
Role
SVP, Corp. Controller & CAO
Sold
73 shs ($22K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Appreciation Rights | 1,780 | $0.00 | -- |
| Exercise | Common Stock | 1,780 | $86.91 | $155K |
| Disposition | Common Stock | 513 | $301.74 | $155K |
| Tax Withholding | Common Stock | 417 | $301.74 | $126K |
| Sale | Common Stock | 73 | $307.03 | $22K |
Holdings After Transaction:
Stock Appreciation Rights — 0 shares (Direct);
Common Stock — 5,021.568 shares (Direct)
Footnotes (1)
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FAQ
What did WESCO (WCC) executive Matthew S. Kulasa do in this Form 4 filing?
Matthew S. Kulasa exercised 1,780 stock appreciation rights into common shares, then disposed of some shares to the issuer, for taxes, and in a small open-market sale, ending with 4,018.5679 directly owned WESCO shares.
How many WESCO (WCC) stock appreciation rights did the executive exercise?
He exercised 1,780 stock appreciation rights, converting them into 1,780 shares of WESCO common stock at $86.91 per share. These rights had vested in three equal annual installments beginning one year after the April 16, 2021 grant date.
At what prices were the WESCO (WCC) stock transactions reported?
The newly acquired common shares came from exercising rights at $86.91 per share. Dispositions to the issuer and for taxes were priced at $301.74 per share, while the open-market sale of 73 shares was reported at $307.03 per share.
What does the vesting footnote in the WESCO (WCC) Form 4 explain?
The footnote explains that the stock appreciation rights became exercisable in three equal annual installments. Vesting began on the first anniversary of the April 16, 2021 grant date, clarifying why the rights were exercisable on the transaction date.