[Form 4] Enpro Inc. Insider Trading Activity
William Abbey, a director of EnPro Industries, Inc. (NPO), acquired 110.6195 phantom share units under the company's Deferred Compensation Plan for Non-Employee Directors on 09/30/2025. These units convert 1-for-1 into common stock and are exercisable upon the reporting person's retirement; they have no expiration date. Following the reported acquisition, Mr. Abbey beneficially owns 1,310.0892 shares of common stock directly. The Form 4 was executed by Angela P. Winter as attorney-in-fact and dated 10/01/2025.
- Beneficial ownership increased to 1,310.0892 shares following the acquisition of 110.6195 phantom units
- Phantom units convert 1-for-1 into common stock and are exercisable upon retirement, aligning director compensation with shareholder outcomes
- No expiration date on the acquired units provides long-term alignment until retirement
- None.
Insights
TL;DR: Routine director deferred-compensation conversion increases direct ownership modestly; immaterial to company valuation.
The filing documents a non-cash acquisition of 110.6195 phantom stock units under EnPro's Deferred Compensation Plan for Non-Employee Directors, converting 1-for-1 into common shares upon retirement. This is a compensation-related issuance to a director rather than an open-market purchase, and it increases the director's direct beneficial ownership to 1,310.0892 shares. No exercise price or expiration applies to the phantom units, and the reported price of $226 appears as the reference value in the filing. The transaction is routine and does not disclose any change in control, cash outlay, or immediate market-facing transaction.
TL;DR: Standard deferred-compensation mechanics for a non-employee director; aligns long-term interests through retirement-vested units.
The disclosure specifies the grant and conversion mechanics: units are granted under the amended and restated Deferred Compensation Plan for Non-Employee Directors and become exercisable upon the director's retirement with no expiration date. Such arrangements are common for non-employee directors to defer compensation and align incentives over tenure. The Form 4 was properly signed via attorney-in-fact and lists the reporting person as a director, indicating compliance with Section 16 reporting obligations.