Modine (NYSE: MOD) CEO logs major stock grant and tax withholding move
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
MODINE MANUFACTURING CO President and CEO Neil David Brinker reported equity compensation and related tax withholding in a new Form 4. On May 26, 2026, he acquired 215,464 shares of common stock at $0.00 per share as a grant tied to Performance Stock for the 2024–2026 period.
On the same date, 87,517 shares of common stock were disposed of in a private transaction to cover tax withholding obligations, a non‑market, tax-related event rather than an open-market sale. Following these transactions, Brinker directly holds 456,428 shares of Modine Manufacturing common stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Brinker Neil David
Role
President and CEO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common stock | 215,464 | $0.00 | -- |
| Tax Withholding | Common stock | 87,517 | $295.88 | $25.89M |
Holdings After Transaction:
Common stock — 456,428 shares (Direct, null)
Footnotes (1)
- Shares issued in settlement of Performance Stock for the performance period 2024 through 2026. Shares disposed of in a private transaction to cover tax withholding.
Key Figures
Shares granted: 215,464 shares
Grant price: $0.0000 per share
Tax-withheld shares: 87,517 shares
+3 more
6 metrics
Shares granted
215,464 shares
Common stock grant at $0.00 per share on May 26, 2026
Grant price
$0.0000 per share
Price for 215,464 granted common shares
Tax-withheld shares
87,517 shares
Disposed in private transaction to cover tax withholding
Tax disposition reference price
$295.8800 per share
Reference price for 87,517-share tax-withholding disposition
Shares owned after transactions
456,428 shares
Direct Modine common stock holdings following May 26, 2026 events
Performance period
2024–2026
Period for Performance Stock settled by share grant
Key Terms
Performance Stock, tax withholding, grant/award acquisition, tax-withholding disposition
4 terms
Performance Stock financial
"Shares issued in settlement of Performance Stock for the performance period 2024 through 2026."
tax withholding financial
"Shares disposed of in a private transaction to cover tax withholding."
Tax withholding is the practice of taking a portion of a payment—such as wages, dividends, or sale proceeds—before it reaches the recipient and sending that portion to the tax authority as an advance on the recipient’s eventual tax bill. For investors it matters because withholding reduces immediate cash received and affects after‑tax returns, estimated tax payments, and whether you may owe more or receive a refund when taxes are finally calculated, like having a small automatic savings set aside for your tax bill.
grant/award acquisition financial
"transaction_action: "grant/award acquisition""
tax-withholding disposition financial
"transaction_action: "tax-withholding disposition""
A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.
FAQ
What insider transactions did MOD CEO Neil David Brinker report on this Form 4?
Neil David Brinker reported a grant of 215,464 Modine Manufacturing common shares and a related tax-withholding disposition of 87,517 shares, both dated May 26, 2026. These moves reflect equity compensation and associated tax payments, not open-market buying or selling.
What does the Performance Stock for 2024–2026 mean in MOD’s insider filing?
The filing notes that shares were issued in settlement of Performance Stock for the 2024–2026 performance period. This indicates the CEO’s share grant is tied to multi-year performance goals, a common structure for long-term incentive compensation, rather than a one-time cash-based bonus.
Is the tax-withholding disposition in MOD’s Form 4 considered an open-market sale?
The 87,517-share disposition is specifically described as a private transaction to cover tax withholding, not an open-market sale. Such tax-withholding events occur when shares from an award are used to pay tax liabilities arising from the equity compensation itself.