IBP (NYSE: IBP) CFO reports tax-withholding on 8,544-share vesting
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Installed Building Products, Inc. Executive VP & CFO Michael Thomas Miller reported a routine tax-withholding share disposition related to equity compensation. On the event date, 3,361 shares of common stock were withheld at $309.45 per share to satisfy tax obligations on the vesting of 8,544 restricted shares under the 2023 Omnibus Incentive Plan.
After this withholding, Miller directly held 30,819 common shares. Separately, an indirect holding entry shows 26,420 common shares held by a trust for which he serves as sole trustee and sole beneficiary with sole voting and investment power.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Miller Michael Thomas
Role
Executive VP & CFO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Common Stock, $0.01 par value per share | 3,361 | $309.45 | $1.04M |
| holding | Common Stock, $0.01 par value per share | -- | -- | -- |
Holdings After Transaction:
Common Stock, $0.01 par value per share — 30,819 shares (Direct, null);
Common Stock, $0.01 par value per share — 26,420 shares (Indirect, By Trust)
Footnotes (1)
- Represents shares withheld to satisfy tax withholding obligation on vesting of 8,544 shares of restricted stock pursuant to the 2023 Omnibus Incentive Plan. These shares are held by a trust of which Mr. Miller is the sole trustee and sole beneficiary and exercises sole voting and investment power.
Key Figures
Tax-withheld shares: 3,361 shares
Tax-withholding price: $309.45 per share
Direct holdings after event: 30,819 shares
+2 more
5 metrics
Tax-withheld shares
3,361 shares
Withheld to satisfy tax obligation on vesting
Tax-withholding price
$309.45 per share
Price for withheld IBP common shares
Direct holdings after event
30,819 shares
Common stock held directly by Miller following transaction
Indirect trust holdings
26,420 shares
Common stock held by trust with Miller as sole trustee and beneficiary
Vested restricted shares
8,544 shares
Restricted stock vesting under 2023 Omnibus Incentive Plan
Key Terms
tax withholding obligation, restricted stock, 2023 Omnibus Incentive Plan, sole voting and investment power
4 terms
tax withholding obligation financial
"Represents shares withheld to satisfy tax withholding obligation on vesting of 8,544 shares"
restricted stock financial
"on vesting of 8,544 shares of restricted stock pursuant to the 2023 Omnibus Incentive Plan"
Shares granted to an individual that carry limits on transfer or sale until certain conditions are met, such as staying with the company for a set time or hitting performance targets. Think of them as a locked gift that gradually opens; for investors they matter because they affect how many shares may enter the market later, signal management incentives and potential dilution, and reveal confidence in future company performance.
2023 Omnibus Incentive Plan financial
"pursuant to the 2023 Omnibus Incentive Plan"
sole voting and investment power financial
"and exercises sole voting and investment power"
FAQ
What did IBP Executive VP & CFO Michael Thomas Miller report on this Form 4?
Miller reported a routine tax-withholding disposition of shares tied to vested restricted stock. The company withheld 3,361 Installed Building Products common shares to cover tax obligations when 8,544 restricted shares vested under the 2023 Omnibus Incentive Plan.
Is the Form 4 transaction by IBP’s CFO an open-market sale or a tax event?
The reported transaction is a tax-withholding disposition, not an open-market sale. Shares were retained by the issuer to satisfy Miller’s tax obligations on vested restricted stock, a common administrative mechanism for equity compensation rather than a discretionary share sale.
What equity award triggered the tax-withholding transaction for IBP’s CFO?
The withholding was triggered by the vesting of 8,544 restricted shares. These restricted shares were granted under Installed Building Products’ 2023 Omnibus Incentive Plan, which governs certain stock-based compensation awards to executives and other eligible participants.