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Insider Trends: Insider at Genuine Parts Acquires Stock Via Conversion of Option/Derivative Security Sells Portion to Pay Tax, Buy Trend Intact

05/12/2021 05:42

09:33 AM EDT, 05/12/2021 (MT Newswires) -- On May 10, 2021, Kevin Herron, President-Us Automotive Group, exercised options/derivative securities for 4,620 shares of Genuine Parts (GPC) and sold 3,812 shares in the company for $513,534 to meet tax obligations. After accounting for tax obligations this transaction resulted in a net acquisition of 808 company shares. Herron controls 16,753 shares of company stock of which 16,254 shares are owned directly and 499 shares indirectly subsequent to the transactions disclosed in the SEC Form 4 filing. These holdings have an approximate market value of $2.20 million as of the prior-day closing price.

In the 90 days prior to the date of this filing, there have been 45 insider transactions reported to the SEC for Genuine Parts. These transactions came from the activities of 15 separate insiders that resulted in a net acquisition of 43,892 company shares. In the preceding 90-day window of time, there were 15 transactions from 6 insiders which resulted in the net acquisition of 10,380 shares.

This is a lower level of transactions than the peer group average in the 3-company Auto & Truck Parts Wholesale peer group over the last 90-day period. Peer group activity averaged 161.3 transactions per company, with company insiders acquiring on average 472,633 shares.

SEC Story Link http://www.sec.gov/Archives/edgar/data/40987/000120919121031953/xslF345X03/doc4.xml

This report does not constitute a recommendation to purchase or sell any security and the analysts are not registered investment advisors. Further analysis is recommended before undertaking any position in any security. Any risks are solely the responsibility of the buyer/seller. The authors, publishers and distributors of the MT Newswires Live Briefs service and any associates thereof accept no liability for the content or actions taken by anyone or institution utilizing this report.