Snap-on VP exercises options and sells 2,000 shares
Rhea-AI Filing Summary
Snap-on Inc VP, General Counsel & Secretary Richard Thomas Miller exercised stock options for 2,000 shares of common stock at $155.92 per share on July 1, 2026 and on the same day sold 2,000 common shares at $405.92 per share in a sale described as an open-market or private transaction. These transactions were carried out under a Rule 10b5-1 Plan adopted on March 11, 2026, and the exercised option was reported as fully vested under Rule 16b-3.
After these transactions, Miller directly holds 4,529.497 shares of common stock, 22,245 stock options, 1,569 restricted stock units and 3,139 performance units, along with 1,176.0777 deferred stock units. Restricted stock units generally vest three years from grant, and performance units may deliver up to 200% of the reported target shares if specified multi-year performance goals are achieved, subject to plan limits.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Exercise and Sale: 2,000 shares ($500K approx. pre-tax spread)
Exercise and Sale
17 txns
Insider
Miller Richard Thomas
Role
VP, Gen Counsel & Secretary
Sold
2,000 shs ($812K)
Approx. gross sale proceeds
$812K
Approx. exercise cost
$312K
Approx. pre-tax spread
$500K
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option (Right to Buy) | 2,000 | $0.00 | $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) — 22,245 contracts for 19,745 underlying shares (Direct);
Common Stock — 4,529.497 shares (Direct);
Restricted Stock Units — 1,569 contracts (Direct);
Performance Units — 3,139 contracts (Direct);
Deferred Stock Units — 1,176.0777 contracts (Direct)
Footnotes (11)
- F1. The option was exercised and the underlying shares were sold pursuant to a Rule 10b5-1 Plan, which was adopted on March 11, 2026.
- F2. Includes 2.2912 shares acquired under a dividend reinvestment plan.
- F3. Option fully vested.
- F4. Exercise of Rule 16b-3 stock option pursuant to a Rule 10b5-1 Plan, which was adopted on March 11, 2026.
- F5. Original stock option grant vests in three annual installments beginning on the date listed in the "Date Exercisable" column.
- F6. 1 for 1.
- F7. The restricted stock units vest three years from the grant date on the date listed above, assuming continued employment.
- F8. 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.
- F9. 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.
- F10. 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.
- F11. Payment will be made in accordance with the reporting person's deferral election, death, disability or termination of employment.
Key Figures
Shares sold: 2000.0000 shares
Sale price: $405.9200 per share
Options exercised: 2000.0000 shares
+5 more
8 metrics
Shares sold
2000.0000 shares
Common stock sold on July 1, 2026
Sale price
$405.9200 per share
Per-share price for 2,000-share sale
Options exercised
2000.0000 shares
Shares acquired from option exercise at $155.9200
Exercise price
$155.9200 per share
Strike price of exercised stock option
Post-transaction options holding
22,245 options
Direct stock options held after reported transactions
Post-transaction common stock holding
4,529.497 shares
Direct common shares held after reported transactions
Post-transaction RSU holding
1,569 units
Restricted stock units outstanding after transactions
Post-transaction performance unit holding
3,139 units
Performance units outstanding after transactions
Key Terms
Rule 10b5-1 Plan, Rule 16b-3 stock option, performance 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"
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.
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.
Deferred Stock Units financial
"Deferred Stock Units with 1 for 1 conversion to Common Stock"
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.
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
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transactions did Snap-on (SNA) report for Richard Thomas Miller?
Snap-on (SNA) reported that Richard Thomas Miller exercised stock options for 2,000 shares at $155.92 per share on July 1, 2026 and sold 2,000 common shares at $405.92 per share in an open-market or private transaction.
Were the SNA insider transactions by Richard Thomas Miller under a Rule 10b5-1 plan?
Yes. The option exercise and share sale were conducted under a Rule 10b5-1 Plan adopted on March 11, 2026. The company notes the options were Rule 16b-3 stock options and fully vested when exercised, indicating they followed a pre-established trading arrangement.
What are the key terms of Miller’s RSUs and performance units at Snap-on (SNA)?
Miller’s restricted stock units generally vest three years from the grant date, assuming continued employment. His performance units span multi-year periods, and if Snap-on achieves specified goals, stock is awarded; the maximum deliverable shares are 200% of the reported target units, subject to plan limits.
What do Miller’s deferred stock units represent in Snap-on (SNA)?
Miller holds 1,176.0777 deferred stock units that track Snap-on common stock on a 1-for-1 basis. Payment will occur according to his deferral election or upon events such as death, disability or termination of employment, as described in the company’s deferred compensation provisions.
AI-generated analysis. How Rhea-AI works. Not financial advice.
