Gleason Todd R 4
4 · CECO ENVIRONMENTAL CORP · Filed Mar 9, 2026
Research Summary
AI-generated summary of this filing
CECO CEO Todd R. Gleason Sells 3,557 Shares for Tax Withholding
What Happened Todd R. Gleason, Chief Executive Officer of CECO Environmental Corp (CECO), had 3,557 shares withheld (disposed) to cover the tax liability associated with the vesting of restricted stock units. The transaction is reported as a disposition at $52.53 per share, totaling approximately $186,849. This was a tax-withholding/net-settlement event (transaction code F), not an open-market sale or a new purchase.
Key Details
- Transaction date: 2026-03-07; Filing date: 2026-03-09 (appears to be timely).
- Shares withheld/disposed: 3,557 at $52.53 per share; total value ≈ $186,849.
- Transaction code: F — shares withheld for tax withholding (net settlement).
- Shares owned after the transaction: not specified in the provided filing details.
- Relevant footnotes: F1 confirms withholding for tax liability on vested RSUs; other footnotes (F2–F7) describe vesting schedules and performance-based RSUs with various conversion/expiration dates.
- Remarks: Exhibit 24 — Power of Attorney included in the filing.
Context This was a routine tax-withholding event related to equity compensation (restricted stock units). Withheld shares to satisfy tax obligations are common and do not necessarily signal buying or selling intent by the insider. Transaction code F indicates these shares were retained by the company (or broker) as payment of taxes rather than sold in the open market.
Insider Transaction Report
- Tax Payment
Common Stock
[F1]2026-03-07$52.53/sh−3,557$186,849→ 407,278 total
- 444(indirect: By first son)
Common Stock
- 444(indirect: By second son)
Common Stock
- 444(indirect: By third son)
Common Stock
- 444(indirect: By daughter)
Common Stock
- 316,902
Stock Option (right to buy)
[F2]Exercise: $6.36→ Common Stock (316,902 underlying) - 598,204
Stock Option (right to buy)
[F2]Exercise: $12.72→ Common Stock (598,204 underlying) - 25,446
Stock Option (right to buy)
[F3]Exercise: $21.31→ Common Stock (25,446 underlying) - 67,347
Stock Option (right to buy)
[F4]Exercise: $23.50→ Common Stock (67,347 underlying) - 225,000
Restricted Stock Units
[F5][F6]→ Common Stock (225,000 underlying) - 150,000
Restricted Stock Units
[F5][F7]→ Common Stock (150,000 underlying)
Footnotes (7)
- [F1]Reflects shares withheld for net settlement to cover the tax liability for the vesting of restricted stock units.
- [F2]The stock option vested in four installments beginning on June 6, 2021, and expires on June 6, 2027.
- [F3]The stock option vests in three equal annual installments beginning on March 15, 2025, and expires on March 15, 2034.
- [F4]The stock option vests in three equal annual installments beginning on March 17, 2026, and expires on March 17, 2035.
- [F5]Represents performance-based restricted stock units. Each restricted stock unit represents a contingent right to receive one share of the Company's stock.
- [F6]Conversion of restricted stock units to the Company's common stock will occur on July 5, 2027 assuming the reporting person is still employed by the Company and if the shares of the Company's common stock have achieved certain stock price targets over the course of the performance period.
- [F7]Conversion of restricted stock units to the Company's common stock will occur on June 4, 2029 assuming the reporting person is still employed by the Company and if the shares of the Company's common stock have achieved certain stock price targets over the course of the performance period.