SXI insider David Dunbar: phantom stock vesting and tax sales reported
Rhea-AI Filing Summary
Standex International Corp director and President/CEO/Chairman David A. Dunbar reported multiple equity transactions on 08/22/2025 and 08/23/2025. Vesting events converted phantom stock units and restricted stock units into common shares, and some shares were sold to cover taxes. The filing shows net changes in direct beneficial ownership across several transactions with reported per-share price $210.48 for taxable sales. After the reported transactions Mr. Dunbar held both direct common shares (ending at 18,826.9759) and indirect interests (115,576 shares held by a trust), plus outstanding unvested performance and restricted awards.
Positive
- Vesting of performance and restricted awards under established plans, converting long-term incentives into common stock
- Substantial indirect ownership retained via trust (115,576 shares), maintaining aligned insider stake
Negative
- Shares sold to cover taxes reduced direct holdings (multiple dispositions at $210.48 per share)
- Net dilution of direct ownership from vesting and subsequent tax-related sales reflected in updated direct share totals
Insights
TL;DR Routine executive vesting and tax-withholding sales; ownership concentration remains via trust holdings.
The Form 4 documents scheduled vesting of phantom stock units, restricted stock units and the grant of performance share units. Several transactions were sales to satisfy tax withholding at a reported price of $210.48 per share. The reporting person retains material indirect ownership via a trust (115,576 shares) and continues to hold direct shares after the transactions. These are operational compensation events rather than open-market purchases or strategic dispositions.
TL;DR Compensation plan mechanics executed as designed; disclosure is standard and detailed.
The filing shows vesting under the Company’s Management Stock Purchase Plan and the 2018 Omnibus Incentive Plan, including performance-based and time-based awards. Sales to cover taxes and the conversion of phantom units are disclosed with explanations of achievement percentages (noting a 52% actual achievement where applicable). Documentation is consistent with routine equity compensation administration and Section 16 reporting requirements.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Phantom Stock Units | 8,127 | $0.00 | -- |
| Grant/Award | Phantom Stock Units | 9,343 | $0.00 | -- |
| Grant/Award | Restricted Stock Units | 6,228 | $0.00 | -- |
| Grant/Award | Phantom Stock Units | 2,890 | $0.00 | -- |
| Exercise | Phantom Stock Units | 10,627 | $0.00 | -- |
| Exercise | Phantom Stock Units | 8,803 | $0.00 | -- |
| Exercise | Restricted Stock Units | 2,299 | $0.00 | -- |
| Exercise | Common Stock | 10,627 | $210.48 | $2.24M |
| Tax Withholding | Common Stock | 3,932 | $210.48 | $828K |
| Exercise | Common Stock | 8,803 | $210.48 | $1.85M |
| Tax Withholding | Common Stock | 3,464 | $210.48 | $729K |
| Exercise | Common Stock | 2,299 | $210.48 | $484K |
| Tax Withholding | Common Stock | 905 | $210.48 | $190K |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- Vesting of Phantom Stock pursuant to Company's Management Stock Purchase Plan. Shares sold to pay taxes on vesting of previously issued restricted stock and/or performance share units. Vesting of Phantom Stock pursuant to the Company's 2018 Omnibus Incentive Plan. Actual achievement, which could have ranged from 0% to 250% of the award, was 52%. The transaction reported herein is the actual number of shares vesting pursuant thereto. Vesting of Restricted Stock Units pursuant to the Company's 2018 Omnibus Incentive Plan. Vesting of Phantom Stock pursuant to the Company's 2018 Omnibus Incentive Plan. Actual achievement, which could have ranged from 0% to 250% of the award, was 52%. Phantom Stock Units were granted at 100% achievement, so this transaction reflects the disposition of shares to accurately reflect the vesting. Award of Performance Share Units pursuant to the 2018 Omnibus Incentive Plan of the Company. These shares cliff vest at the end of a three year performance period with the ultimate number of shares ranging from 0 to 250% of the award based on achievement against Company performance metrics of the three year period. Grant of Restricted Stock Units pursuant to the 2018 Omnibus Incentive Plan of the Company which vests one-third per year on each anniversary of the date of the award. Contingent Purchase of Phantom Stock of the Company pursuant to the Management Stock Purchase Plan component of the 2018 Omnibus Incentive Plan vesting three years after the date of purchase in the form of Common Stock.
