Patrick Industries (PATK) CEO Andy Nemeth Sells Shares, Receives Awards

What Happened Andy L. Nemeth, CEO of Patrick Industries (PATK), reported multiple transactions on 2026-01-27. He disposed of 16,630 shares at $129.93 per share (proceeds of $2,160,736) in connection with tax payment/withholding, and an additional 38,383-share disposition (reported at $0.00). At the same time he was issued awards: 7,696 shares (time‑based grant) and 30,786 shares (performance‑based grant), both reported at $0.00. The net activity reflects vested awards and shares returned/withheld to satisfy tax obligations rather than an open‑market sell motivated by liquidity needs.

Key Details

• Transaction date: 2026-01-27; Form 4 filed 2026-01-29 (filing appears timely).
• Dispositions: 16,630 shares @ $129.93 = $2,160,736 (code F — tax payment/withholding); 38,383 shares disposed (code J) reported at $0.00.
• Acquisitions: 7,696 shares (code A, time‑based grant) and 30,786 shares (code A, performance‑based grant) reported at $0.00.
• Shares owned after the transactions: not specified in the filing summary provided.
• Footnotes: F1 = adjustment to performance grant entitlement; F2 = shares returned to the company to satisfy tax withholding on a performance grant vested after three years; F3 = annual time‑based grant (Jan 2026) vesting Jan 2029; F4 = performance grant vests after three years on achievement of targets.

Context

• The F and J codes indicate tax withholding/other disposition tied to vesting, not an open‑market sale; the filing shows awards vested and a portion of those vested shares were returned or withheld to satisfy tax obligations (net settlement).
• The two award entries are grants, not cash purchases, and include a time‑based grant (vests over time) and a performance‑based grant (vests upon achievement of targets).
• These types of filings commonly reflect routine compensation and tax withholding rather than a directional signal about company prospects.