Broccole Carmine Joseph 4/A
4/A · STANDARD MOTOR PRODUCTS, INC. · Filed Mar 27, 2026
Research Summary
AI-generated summary of this filing
Standard Motor Products (SMP) CLO Carmine Broccole Sells Shares
What Happened
Carmine Broccole, Chief Legal Officer & Secretary of Standard Motor Products (SMP), had a total of 6,591 shares disposed of to satisfy option exercise/payment of tax liabilities: 5,049 shares withheld on 2026-02-24 at a reported price of $44.19 (≈ $223,115) and 1,542 shares withheld on 2026-03-01 at $39.68 (≈ $61,187). These dispositions were for payment of exercise price or tax withholding (transaction code F) rather than open-market sales.
Key Details
- Transaction dates & values:
- 2026-02-24: 5,049 shares withheld at $44.19 — $223,115 (price = closing price on 2/24/2026).
- 2026-03-01: 1,542 shares withheld at $39.68 — $61,187 (price = closing price on 2/27/2026, the last trading day before vesting).
- Total shares withheld: 6,591; total value ≈ $284,302.
- Shares owned after transaction: Not specified in the summary provided here—see the amended Form 4 for updated beneficial ownership.
- Footnotes: This is an amended Form 4 correcting the number of shares withheld due to an administrative error by the equity plan administrator (Footnotes F1 & F2). Each transaction is reported as exempt from Section 16(b) under Rule 16b-3(e).
- Filing timeliness: The filing is an amendment (filed 2026-03-27) correcting earlier Form 4s filed shortly after each transaction; the original filings appear to have been filed within the usual 2-business-day window.
Context
These were net-share-withholding transactions to satisfy option exercise costs or tax liabilities (a common administrative/cashless-settlement method), not open-market sales. Such withholdings are routine and typically reflect plan mechanics rather than an active decision to liquidate holdings; they should be interpreted differently than discretionary sales.
Insider Transaction Report
- Tax Payment
Common Stock
[F1]2026-02-24$44.19/sh−5,049$223,115→ 81,329 total - Tax Payment
Common Stock
[F2]2026-03-01$39.68/sh−1,542$61,187→ 79,787 total
Footnotes (2)
- [F1]This Form 4/A amends the Form 4 filed by the reporting person on February 26, 2026, to correct and restate the number of shares reported as disposed of pursuant to the transaction on February 24, 2026, and the resulting number of shares beneficially owned. The correction reflects an administrative error by the equity plan administrator in determining the number of shares to be withheld. As previously disclosed, this transaction is exempt from Section 16(b) pursuant to Rule 16b-3(e). The price reported above reflects the closing price of the issuer's Common Stock on February 24, 2026.
- [F2]This Form 4/A also amends the Form 4 filed by the reporting person on March 3, 2026, to correct and restate the number of shares reported as disposed of pursuant to the transaction on March 1, 2026, and the resulting number of shares beneficially owned. The correction reflects an administrative error by the equity plan administrator in determining the number of shares to be withheld. As previously disclosed, this transaction is exempt from Section 16(b) pursuant to Rule 16b-3(e). The price reported above reflects the closing price of the issuer's Common Stock on February 27, 2026 (the last trading day immediately preceding the shares vesting).