NACCO CEO trust gets stock award, surrenders shares
NACCO Industries reported that a trust associated with President and CEO John C. Butler Jr. acquired 39,630 shares of Class A Common Stock as a stock award under the company’s Executive Long-Term Incentive Compensation Plan.
Rhea-AI Filing Summary
NACCO Industries reported that a trust associated with President and CEO John C. Butler Jr. acquired 39,630 shares of Class A Common Stock as a stock award under the company’s Executive Long-Term Incentive Compensation Plan. On the same date, the trust surrendered 8,777 Class A shares to the company in a cashless transaction to cover tax withholding on this award, rather than through an open-market sale. After these transactions, the trust’s indirect holdings of Class A shares reported in this line totaled 389,781. The filing also lists additional indirect Class A and Class B holdings through various family trusts, partnerships, and an IRA, with several positions expressly reported as beneficial ownership disclaimed.
Positive
- None.
Negative
- None.
Insider Trade Summary
17 transactions reported
Mixed
17 txns
Insider
BUTLER JOHN C JR
Role
President & CEO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Class A Common Stock | 39,630 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Class A Common Stock | 8,777 | $0.00 | $0.00 |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
Holdings After Transaction:
Class A Common Stock — 389,781 shares (Indirect, By Trust);
Class B Common Stock — 1,022 contracts (Indirect, AMR Associates NC, L.P.);
Class B Common Stock — 17,052 contracts (Indirect, By Spouse/Trust);
Class B Common Stock — 26,161 contracts (Indirect, By Spouse/RAI);
Class B Common Stock — 42,529 contracts (Indirect, to Spouse by RAIV (B));
Class A Common Stock — 10 shares (Indirect, AMR Associates NC, L.P.);
Class A Common Stock — 69,673 shares (Indirect, By Spouse/Trust);
Class A Common Stock — 9,052 shares (Indirect, By RAII/Child 1);
Class A Common Stock — 4,083 shares (Indirect, By Trust-Child 1);
Class A Common Stock — 9,208 shares (Indirect, By RAII/Child 2);
Class A Common Stock — 3,927 shares (Indirect, By Trust-Child 2);
Class A Common Stock — 2,800 shares (Indirect, By IRA);
Class A Common Stock — 4,054 shares (Indirect, By Trust/Daughter);
Class A Common Stock — 4,055 shares (Indirect, By Trust/Son)
Footnotes (13)
- F1. Shares of Class A Common Stock awarded to the Reporting Person under the Company's Executive Long-Term Incentive Compensation Plan.
- F2. N/A
- F3. Reporting Person serves as Trustee of the J.C. Butler, Jr. Revocable Trust.
- F4. Cashless Exercise-Award shares that Reporting Person surrendered to Company in order to satisfy his/her tax withholding obligations with respect to his/her Long-Term Incentive Plan Stock Award.
- F5. Represents the Reporting Person's spouse's proportionate limited partnership interest in shares held by AMR NC. Reporting Person disclaims beneficial ownership of all such shares.
- F6. Held by BTR 2020 GST Trust for the benefit of Reporting Person's spouse. Reporting Person disclaims beneficial ownership of all such shares.
- F7. Represents the Reporting Person's child's proportionate limited partnership interests in shares held by Rankin Associates II, L.P . Reporting Person disclaims beneficial ownership of all such shares.
- F8. Held by Trust, John C. Butler, Jr., Trustee, for the benefit of Reporting Person's minor child. Reporting Person disclaims beneficial ownership of all such shares.
- F9. Held by Trust for the benefit of Reporting Person's Spouse. Reporting Person disclaims beneficial ownership of all such shares.
- F10. Held in an Individual Retirement Account for the benefit of the Reporting Person.
- F11. Reporting Person's spouse serves as trustee of the JCB 2020 GST Trust for the benefit of Clara R. Butler.
- F12. Reporting Person's spouse serves as trustee of the JCB 2020 GST Trust for the benefit of Griffin B. Butler.
- F13. Represents the Reporting Person's spouse's proportionate limited partnership interests in shares held by Rankin Associates I, L.P.
FAQ
What did NACCO (NC) CEO John C. Butler Jr.’s trust acquire in this Form 4?
A trust associated with NACCO CEO John C. Butler Jr. received 39,630 Class A shares as a long-term incentive stock award. The award was granted under NACCO’s Executive Long-Term Incentive Compensation Plan and is reported as an indirect holding through the J.C. Butler Jr. Revocable Trust.
Are all reported NACCO (NC) indirect holdings beneficially owned by the CEO?
No. Several positions are reported through family partnerships and trusts where Butler or his spouse or children are beneficiaries or trustees. The filing explicitly states that beneficial ownership is disclaimed for multiple entities, including certain GST trusts and limited partnership interests.
Does this NACCO (NC) Form 4 show any open-market buying or selling by the CEO?
The reported transactions are a stock award to a trust associated with the CEO and a related tax-withholding share surrender back to the company. There is no indication of open-market purchases or sales; the remaining entries update indirect holdings positions only.
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