SiteOne (SITE) CEO reclassifies 3,591 shares into family trust
Rhea-AI Filing Summary
Doug Black, CEO and a director of SiteOne Landscape Supply, Inc. (SITE), reported a transfer of 3,591 shares on 09/03/2025. The Form 4 shows those 3,591 shares were disposed of from direct ownership and simultaneously acquired as indirect ownership by a family trust for which Mr. Black serves as trustee, at a price of $0 (internal transfer). The filing also lists existing indirect ownership of 93,675 shares via a SLAT. After the reported transaction Mr. Black continued to hold 493,180 shares directly and 3,591 shares indirectly through the family trust, with the SLAT interest separately noted.
Positive
- Transaction disclosed promptly on a Form 4 with clear explanation of the transfer to a family trust
- Beneficial ownership retained through indirect holdings (transfer did not remove economic exposure)
Negative
- None.
Insights
TL;DR: Small insider transfer to a family trust; no change in aggregate economic exposure disclosed.
The Form 4 documents an internal reclassification of 3,591 shares on 09/03/2025 from direct to indirect ownership via a family trust where the reporting person is trustee. The transaction code G(1) and an acquisition price of $0 indicate this was a non-market transfer rather than a sale. Reported direct holdings remain at 493,180 shares and indirect holdings include the transferred 3,591 shares plus a separate 93,675-share SLAT position. For investors, this is a governance/estate-planning move with no disclosed change in voting or economic exposure.
TL;DR: Routine insider reclassification to a trust; disclosure aligns with Section 16 requirements.
The filing shows the reporting person acting as trustee for a family trust, with an explanatory note that the transaction "reflects the transfer of 3,591 shares to a family trust." The signature is provided by an attorney-in-fact, consistent with authorized filing practice. This appears to be an internal estate-planning or holding-structure adjustment rather than a material disposition; the Form 4 properly records both the reduction in direct holdings and the simultaneous indirect acquisition.