Director at Genuine Parts Co (NYSE: GPC) settles RSUs via share withholding
Rhea-AI Filing Summary
Genuine Parts Co director Donna Westbrook Hyland exercised restricted stock units into common stock and used shares to cover taxes. She converted 1,673 restricted stock units into the same number of common shares, then had 455 common shares withheld at an implied price of $104.66 per share to satisfy tax obligations. After these compensation-related transactions, she directly owns 9,811 shares of Genuine Parts common stock. The filing shows a routine equity award vesting and tax-withholding event, not an open-market trade.
Positive
- None.
Negative
- None.
Insights
Routine director equity vesting with tax withholding, not a market trade.
Director Donna Westbrook Hyland converted 1,673 restricted stock units into common shares and had 455 shares withheld at $104.66 to cover tax liabilities. This follows a typical equity compensation pattern for board members.
The code F disposition reflects tax withholding, not an open-market sale, so it carries limited signaling value about her views on GENUINE PARTS CO. After these transactions she holds 9,811 common shares directly, with no remaining derivative positions shown in this filing.
Footnotes explain that each restricted stock unit converts into one share and that units vest upon grant but convert to stock on the fifth anniversary or earlier on specific events such as a change in control or qualifying termination, clarifying the long-term nature of these awards.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 1,673 | $0.00 | -- |
| Exercise | Common Stock | 1,673 | $0.00 | -- |
| Tax Withholding | Common Stock | 455 | $104.66 | $48K |
Footnotes (1)
- Each restricted stock unit represents a vested right to receive one share of GPC common stock at a future date. The restricted stock units are vested upon grant and convert to shares of GPC common stock on the fifth anniversary of the grant date, or earlier upon a change in control of GPC or the grantee's termination as a director of GPC by reason of death, disability or retirement.