Novak Richard A 4
4 · FEDERATED HERMES, INC. · Filed Mar 6, 2026
Research Summary
AI-generated summary of this filing
Federated Hermes (FHI) Richard Novak Receives Award & Sells Shares
What Happened
Richard A. Novak, Principal Accounting Officer of Federated Hermes, received 2,576 shares as a grant/award (vesting) on 2026-03-05 (acquired at $0.00). On the same date he disposed of 867 shares in an open-market/private sale at a weighted average price of $56.49, generating proceeds of approximately $48,980. The sale was reported as to satisfy tax withholding obligations tied to the vesting award.
Key Details
- Transaction date: 2026-03-05 (reported on Form 4 filed 2026-03-06). Filing appears timely.
- Award: 2,576 shares acquired (code A) at $0.00 (vesting).
- Sale: 867 shares disposed (code S) at a weighted average price $56.49 for total proceeds ~$48,980. Footnote indicates the sale occurred in 10 transactions at prices ranging $56.42–$56.82; per-price breakdown available on request.
- Reason for sale: Tax withholding related to vesting (footnote F1).
- Shares owned after transaction: Not specified in this Form 4.
- Other remark: Power of Attorney dated Aug 30, 2022, is incorporated by reference.
Context
This filing reflects a typical vesting event where restricted shares are granted and a portion of shares are sold to satisfy tax obligations—common executive compensation mechanics and not by itself a market sentiment signal. Purchases by insiders tend to be more informative than routine sales made solely for tax withholding.
Insider Transaction Report
- Sale
Class B Common Stock
[F1][F2]2026-03-05$56.49/sh−867$48,980→ 42,633 total - Award
Class B Common Stock
2026-03-05+2,576→ 45,209 total
Footnotes (2)
- [F1]Represents a sale of shares to satisfy tax obligations arising from the vesting of restricted shares of stock.
- [F2]The price reported in Column 4 is a weighted average price. These shares were sold in 10 transactions at prices ranging from $56.42 to $56.82 inclusive. The reporting person undertakes to provide to Federated Hermes, Inc., any security holder of Federated Hermes, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.