Insider Trends: Applied Industrial Technologies Insider Converts Option/Derivative Security to Acquire Stock, Makes Tax Sale, Selling Trend Intact
04:18 PM EDT, 05/10/2021 (MT Newswires) -- On May 06, 2021, Fred D Bauer, VP-General Counsel & Secretary, exercised options/derivative securities for 7,600 shares of Applied Industrial Technologies (AIT) and sold 5,599 shares in the company for $578,657 to meet tax obligations. After accounting for tax obligations this transaction resulted in a net acquisition of 2,001 company shares. After the Form 4 filing with the SEC, Bauer controls 96,242 shares of the company of which 96,221 shares are held directly and 21 are owned indirectly. These holdings have an approximate market value of $10.0 million as of the prior-day closing price.
During the most recent 90-day period, prior to the date of this filing, there have been 9 insider transactions reported to the SEC for Applied Industrial Technologies. These transactions came from the activities of 6 different insiders that resulted in a net disposition of 5,895 company shares. In the preceding 90-day window of time, there were 23 transactions from 11 insiders which resulted in the net acquisition of 28,725 shares.
This is lower than the average level of insider transactions in the 9-company Industrial Machinery & Equipment Wholesale peer group over the last 90-day period. Within the peer group activity averaged 105.2 transactions per company, with company insiders acquiring on average 185,046 shares.
SEC Story Link http://www.sec.gov/Archives/edgar/data/109563/000010956321000051/xslF345X03/wf-form4_162067766784575.xml
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