Tax-driven share sale by Standard Motor (SMP) CIO Nicholas Ray
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
STANDARD MOTOR PRODUCTS, INC. executive Nicholas Ray, CIO & VP IT, reported an open-market sale of common stock mainly to cover taxes on vested equity awards. He sold 1,950 shares of common stock at a weighted average price of $38.28 per share in a broker-assisted sale to satisfy withholding tax liability from restricted stock vesting under the company’s Omnibus Incentive Plans. After this sale, he directly holds 41,149 shares of common stock. A separate entry shows 5,627 ESOP shares beneficially owned following the most recent allocation update.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 1,950 shares ($74,646)
Net Sell
2 txns
Insider
Nicholas Ray
Role
CIO & VP IT
Sold
1,950 shs ($75K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 1,950 | $38.28 | $75K |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 41,149 shares (Direct, null)
Footnotes (1)
- This transaction was a broker-assisted sale of shares to cover the payment of withholding tax liability incurred upon the vesting of restricted stock awards issued to the reporting person under the Company's Omnibus Incentive Plans. This transaction was executed in multiple trades at prices ranging from $37.93 to $38.87. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected. ESOP shares beneficially owned. Allocations and/or dispositions may have occurred since the date of the reporting person's last ownership report.
Key Figures
Shares sold: 1,950 shares
Weighted average sale price: $38.28/share
Post-sale common holdings: 41,149 shares
+2 more
5 metrics
Shares sold
1,950 shares
Open-market sale to cover tax liability
Weighted average sale price
$38.28/share
Broker-assisted sale in multiple trades
Post-sale common holdings
41,149 shares
Common stock held directly after transaction
ESOP shares held
5,627 shares
Beneficially owned ESOP shares after latest update
Sale price range
$37.93–$38.87/share
Multiple trades underlying weighted average price
Key Terms
broker-assisted sale, withholding tax liability, restricted stock awards, Omnibus Incentive Plans, +1 more
5 terms
broker-assisted sale financial
"This transaction was a broker-assisted sale of shares to cover the payment of withholding tax liability"
withholding tax liability financial
"to cover the payment of withholding tax liability incurred upon the vesting of restricted stock awards"
restricted stock awards financial
"withholding tax liability incurred upon the vesting of restricted stock awards issued to the reporting person"
Restricted stock awards are company shares given to employees or executives that cannot be sold or transferred until certain conditions — like staying with the company for a set time or meeting performance targets — are met, like a gift that is locked in a safe until rules are satisfied. Investors care because these awards tie management’s pay to company performance, can increase the number of shares outstanding when they become tradable (dilution), and may signal expected future selling pressure or commitment to long-term growth.
Omnibus Incentive Plans financial
"restricted stock awards issued to the reporting person under the Company's Omnibus Incentive Plans"
FAQ
What did SMP executive Nicholas Ray report in his latest Form 4 filing?
Nicholas Ray reported a sale of 1,950 shares of STANDARD MOTOR PRODUCTS, INC. common stock. The filing states this was a broker-assisted sale to cover withholding tax liability from vested restricted stock awards under the company’s Omnibus Incentive Plans.