Wesco EVP's $50K Preferred Shares Redeemed Amid Company-Wide Stock Action
Wesco International (WCC) EVP of Supply Chain & Operations Hemant Porwal reported changes in beneficial ownership on June 22, 2025.
Rhea-AI Filing Summary
Wesco International (WCC) EVP of Supply Chain & Operations Hemant Porwal reported changes in beneficial ownership on June 22, 2025. The key transaction involved the redemption of Series A Preferred Stock by the company.
Transaction Details:
- The company redeemed all outstanding shares of 10.625% Series A Fixed-Rate Reset Cumulative Perpetual Preferred Stock
- Redemption price: $25,000 per preferred share or $25 per depositary share plus accrued/unpaid dividends
- Porwal's 2,000 shares of Series A Preferred Stock were redeemed, reducing holdings to 0
- Maintains direct ownership of 20,523.91 shares of common stock
This mandatory redemption reflects a significant change in the company's capital structure, potentially indicating strong financial position or strategic realignment of capital resources.
Positive
- None.
Negative
- None.
Insider Trade Summary
Other: 2,000 shares
Other
2 txns
Insider
Porwal Hemant
Role
EVP Supply Chain & Operations
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Series A Preferred Stock | 2,000 | $25.00 | $50K |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Series A Preferred Stock — 0 shares (Indirect, by Joint account);
Common Stock — 20,523.9097 shares (Direct)
Footnotes (1)
- F1. On June 22, 2025, the Issuer redeemed all of its outstanding shares of 10.625% Series A Fixed-Rate Reset Cumulative Perpetual Preferred Stock, par value $1.01 per share (the "Series A Preferred Stock"), and the corresponding depositary shares, each representing 1/1,1000th of one share of Series A Preferred Stock, at the redemption price specified in the Issuer's Certificate of Designations of Series A Preferred Stock, equal to $25,000 per share of Series A Preferred Stock (plus accrued and unpaid dividends), or $25 per depositary share (plus accrued and unpaid dividends).
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did WCC's EVP of Supply Chain & Operations Hemant Porwal report on June 22, 2025?
Hemant Porwal reported the redemption of 2,000 shares of Series A Preferred Stock at $25 per share by WCC. This was part of the company's complete redemption of its outstanding 10.625% Series A Fixed-Rate Reset Cumulative Perpetual Preferred Stock.
What was the redemption price for WCC's Series A Preferred Stock in June 2025?
WCC redeemed the Series A Preferred Stock at $25,000 per preferred share (equivalent to $25 per depositary share), plus accrued and unpaid dividends. Each depositary share represented 1/1,000th of one share of Series A Preferred Stock.
What positions does Hemant Porwal hold at WESCO International (WCC)?
According to the Form 4 filing, Hemant Porwal serves as Executive Vice President of Supply Chain & Operations at WESCO International Inc.
AI-generated analysis. How Rhea-AI works. Not financial advice.