Snap-on (SNA) VP Miller exercises options and sells 2,000 shares under 10b5-1 plan
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Snap-on Inc VP, General Counsel & Secretary Richard Thomas Miller reported an exercise-and-sale transaction in company stock. On July 1, 2026, he exercised options to acquire 2,000 shares of common stock at an exercise price of $155.92 per share and sold 2,000 shares at $405.92 per share. The filing notes that both the option exercise and the related share sale were carried out under a pre-arranged Rule 10b5-1 Plan adopted on March 11, 2026, indicating the timing was planned in advance.
After these transactions, Miller directly holds 6,529.497 shares of Snap-on common stock. He also continues to hold various equity-based awards, including deferred stock units, restricted stock units that generally vest three years from grant, and performance units tied to company goals over the 2024–2026, 2025–2027, and 2026–2028 periods. For the performance units, the filing states that up to 200% of the target number of units may be earned, subject to plan limits and achievement of specified performance goals.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Net Seller: 2,000 shares ($811,840)
Net Sell
17 txns
Insider
Miller Richard Thomas
Role
VP, Gen Counsel & Secretary
Sold
2,000 shs ($812K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option (Right to Buy) | 2,000 | $0.00 | -- |
| Exercise | Common Stock | 2,000 | $155.92 | $312K |
| Sale | Common Stock | 2,000 | $405.92 | $812K |
| holding | Stock Option (Right to Buy) | -- | -- | -- |
| holding | Stock Option (Right to Buy) | -- | -- | -- |
| holding | Stock Option (Right to Buy) | -- | -- | -- |
| holding | Stock Option (Right to Buy) | -- | -- | -- |
| holding | Stock Option (Right to Buy) | -- | -- | -- |
| holding | Stock Option (Right to Buy) | -- | -- | -- |
| holding | Stock Option (Right to Buy) | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Performance Units | -- | -- | -- |
| holding | Performance Units | -- | -- | -- |
| holding | Performance Units | -- | -- | -- |
| holding | Deferred Stock Units | -- | -- | -- |
Holdings After Transaction:
Stock Option (Right to Buy) — 2,500 shares (Direct, null);
Common Stock — 6,529.497 shares (Direct, null);
Restricted Stock Units — 576 shares (Direct, null);
Performance Units — 1,152 shares (Direct, null);
Deferred Stock Units — 1,176.078 shares (Direct, null)
Footnotes (1)
- The option was exercised and the underlying shares were sold pursuant to a Rule 10b5-1 Plan, which was adopted on March 11, 2026. Includes 2.2912 shares acquired under a dividend reinvestment plan. Option fully vested. Exercise of Rule 16b-3 stock option pursuant to a Rule 10b5-1 Plan, which was adopted on March 11, 2026. Original stock option grant vests in three annual installments beginning on the date listed in the "Date Exercisable" column. 1 for 1. The restricted stock units vest three years from the grant date on the date listed above, assuming continued employment. If the Company achieves certain goals over the 2024-2026 period, the performance units will vest and stock will be awarded. The target number of units that may be earned is reported above; the maximum amount is 200% of the number reported, subject to plan limits. If the Company achieves certain goals over the 2025-2027 period, the performance units will vest and stock will be awarded. The target number of units that may be earned is reported above; the maximum amount is 200% of the number reported, subject to plan limits. If the Company achieves certain goals over the 2026-2028 period, the performance units will vest and stock will be awarded. The target number of units that may be earned is reported above; the maximum amount is 200% of the number reported, subject to plan limits. Payment will be made in accordance with the reporting person's deferral election, death, disability or termination of employment.
Key Figures
Shares sold: 2,000 shares
Sale price per share: $405.92 per share
Option exercise price: $155.92 per share
+5 more
8 metrics
Shares sold
2,000 shares
Open-market sale of common stock on July 1, 2026
Sale price per share
$405.92 per share
Price for 2,000 Snap-on common shares sold
Option exercise price
$155.92 per share
Exercise price for 2,000-share stock option
Shares held after transaction
6,529.497 shares
Direct Snap-on common stock ownership post-transaction
Largest remaining option grant
4,700 shares at $155.34
Stock option (right to buy) expiring February 13, 2030
Deferred stock units
1,176.0777 units
Deferred stock units linked 1-for-1 to common stock
Restricted stock units (2029 vest)
508 units
RSUs vesting on February 12, 2029, assuming continued employment
Performance unit payout cap
200% of target
Maximum earnable units for each performance period, subject to plan limits
Key Terms
Rule 10b5-1 Plan, Rule 16b-3 stock option, Deferred Stock Units, Restricted Stock Units, +2 more
6 terms
Rule 10b5-1 Plan regulatory
"The option was exercised and the underlying shares were sold pursuant to a Rule 10b5-1 Plan"
A Rule 10b5-1 plan is a prearranged, written schedule that lets corporate insiders buy or sell company stock at set times or amounts, even if they later learn material nonpublic information. Think of it like setting an automatic thermostat for trades: it creates a clear record that trades were planned in advance, reducing the risk of insider-trading accusations and helping investors trust that insider transactions are routine rather than based on secret information.
Rule 16b-3 stock option regulatory
"Exercise of Rule 16b-3 stock option pursuant to a Rule 10b5-1 Plan"
Deferred Stock Units financial
"Payment will be made in accordance with the reporting person's deferral election"
Deferred stock units are promises from a company to give an employee shares of stock at a future date, often after certain conditions are met or after leaving the company. They function like a form of delayed compensation, allowing employees to earn shares over time. For investors, they represent potential future ownership in the company, but do not provide immediate voting rights or dividends until the shares are actually received.
Restricted Stock Units financial
"The restricted stock units vest three years from the grant date"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
Performance Units financial
"If the Company achieves certain goals over the 2024-2026 period, the performance units will vest"
Performance units are company awards that become valuable only if specified business targets are met; they typically convert into shares or cash when performance goals are achieved. Think of them like a conditional bonus that turns into stock only if the company hits agreed milestones, so they align managers’ incentives with shareholders’ interests and can affect future share count, executive pay expense, and investor returns.
dividend reinvestment plan financial
"Includes 2.2912 shares acquired under a dividend reinvestment plan"
A dividend reinvestment plan lets shareholders automatically use cash dividends to buy more shares of the same company instead of receiving the money. It matters to investors because it turns regular payouts into a steady way to grow ownership and take advantage of compound returns—like having your savings automatically buy additional slices of a pie over time—while often reducing transaction costs and smoothing purchase timing.
FAQ
What did Snap-on (SNA) executive Richard Thomas Miller report in this Form 4?
Richard Thomas Miller reported exercising stock options for 2,000 Snap-on shares and selling 2,000 shares on July 1, 2026. The activity reflects routine equity compensation use, rather than a new grant, and was executed under a pre-arranged Rule 10b5-1 trading plan.
What stock options did Richard Thomas Miller exercise in this Snap-on (SNA) filing?
Miller exercised a stock option covering 2,000 Snap-on shares at an exercise price of $155.92 per share. This option was fully vested and the exercise was classified as a derivative exercise transaction, with the underlying shares then sold under a Rule 10b5-1 Plan.
Were Richard Thomas Miller’s Snap-on (SNA) trades made under a Rule 10b5-1 plan?
Yes. The Form 4 footnotes state the option exercise and sale were executed under a Rule 10b5-1 Plan adopted on March 11, 2026. Such plans pre-schedule trades, indicating the timing was determined in advance rather than based on short-term market developments.
What equity awards does Richard Thomas Miller still hold in Snap-on (SNA)?
He continues to hold deferred stock units, restricted stock units, performance units, and several stock option grants with exercise prices between about $155.34 and $378.55. Certain restricted stock units vest after three years, while performance units depend on meeting multi-year company performance goals.
How are Snap-on (SNA) performance units structured for Richard Thomas Miller?
The performance units can vest, and stock can be awarded, if Snap-on meets specified goals over the 2024–2026, 2025–2027, or 2026–2028 periods. The filing notes that up to 200% of the target number of performance units may be earned, subject to overall plan limits.