Standard Motor CLO corrects tax share withholdings
STANDARD MOTOR PRODUCTS, INC. executive Carmine Joseph Broccole, CLO & Secretary, filed an amended insider report to correct two prior tax-withholding share dispositions in company common stock.
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Rhea-AI Filing Summary
STANDARD MOTOR PRODUCTS, INC. executive Carmine Joseph Broccole, CLO & Secretary, filed an amended insider report to correct two prior tax-withholding share dispositions in company common stock. The amended filing shows 5,049 shares were withheld on February 24, 2026 at $44.19 per share and 1,542 shares were withheld on March 1, 2026 at $39.68 per share to cover tax liabilities on equity awards.
The amendment fixes administrative errors by the equity plan administrator in determining the number of shares to be withheld and the resulting beneficial ownership. After these corrections, Broccole directly holds 79,787 shares of common stock. Both transactions are described as exempt from Section 16(b) under Rule 16b-3(e) and were priced using the noted closing market prices.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise Price or Tax Liability | Common Stock | 1,542 | $39.68 | $61K |
| Exercise Price or Tax Liability | Common Stock | 5,049 | $44.19 | $223K |
Footnotes (2)
- F1. This Form 4/A amends the Form 4 filed by the reporting person on February 26, 2026, to correct and restate the number of shares reported as disposed of pursuant to the transaction on February 24, 2026, and the resulting number of shares beneficially owned. The correction reflects an administrative error by the equity plan administrator in determining the number of shares to be withheld. As previously disclosed, this transaction is exempt from Section 16(b) pursuant to Rule 16b-3(e). The price reported above reflects the closing price of the issuer's Common Stock on February 24, 2026.
- F2. This Form 4/A also amends the Form 4 filed by the reporting person on March 3, 2026, to correct and restate the number of shares reported as disposed of pursuant to the transaction on March 1, 2026, and the resulting number of shares beneficially owned. The correction reflects an administrative error by the equity plan administrator in determining the number of shares to be withheld. As previously disclosed, this transaction is exempt from Section 16(b) pursuant to Rule 16b-3(e). The price reported above reflects the closing price of the issuer's Common Stock on February 27, 2026 (the last trading day immediately preceding the shares vesting).
FAQ
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What did SMP executive Carmine Joseph Broccole report in this amended Form 4/A?
Why was this Standard Motor Products Form 4/A amendment necessary?
Are these SMP insider transactions open-market sales or tax-withholding dispositions?
On which dates did the corrected SMP tax-withholding transactions occur?
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