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.
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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.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Series A Preferred Stock | 2,000 | $25.00 | $50K |
| holding | Common Stock | -- | -- | -- |
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
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What insider transaction did WCC's EVP of Supply Chain & Operations Hemant Porwal report on June 22, 2025?
What was the redemption price for WCC's Series A Preferred Stock in June 2025?
What positions does Hemant Porwal hold at WESCO International (WCC)?
AI-generated analysis. How Rhea-AI works. Not financial advice.