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Main Street Capital CORP·4

Apr 3, 4:30 PM ET

Magdol David L. 4

Research Summary

AI-generated summary

Updated

Main Street Capital (MAIN) David L. Magdol Receives Award, Sells Shares

What Happened David L. Magdol, President, Chief Investment Officer and a Section 16 officer of Main Street Capital (MAIN), received a grant of 58,940 shares and also acquired small amounts via dividend reinvestment. To cover tax withholding on the vesting of the restricted shares, 23,596 shares were surrendered/disposed (reported at $52.96) for proceeds of $1,249,644. The dividend reinvestment purchases were small (about 192.314 shares total, ~$10.4k combined).

Key Details

  • Primary transactions:
    • 2026-03-13: Acquired 62.488 shares @ $54.88 (other acquisition – dividend reinvestment) — $3,429
    • 2026-03-13: Acquired 59.08 shares @ $54.66 (other acquisition – dividend reinvestment) — $3,229
    • 2026-03-27: Acquired 70.746 shares @ $52.92 (other acquisition – dividend reinvestment) — $3,744
    • 2026-04-01: Awarded 58,940 shares (grant) — reported $0.00 in filing
    • 2026-04-01: 23,596 shares withheld/disposed to cover taxes @ $52.96 — $1,249,644 (transaction code F)
  • Net effect: ~59,132 shares acquired (awards + reinvestments) and 23,596 shares withheld → net increase ≈ 35,536 shares for Magdol.
  • Shares owned after transaction: Not specified in the provided filing details.
  • Footnotes / legal items:
    • Dividend reinvestment purchases were made under a dividend reinvestment plan and are exempt from Section 16 under Rule 16a-11 (F1).
    • Awarded shares issued under the Main Street Capital Corporation 2022 Equity and Incentive Plan (F2).
    • The 23,596-share withholding was for tax liability on vested restricted shares; withholding was approved by the Compensation Committee and treated as exempt from §16(b) under Rule 16b-3(e) (F3).
  • Filing/timeliness: Report filed 2026-04-03 covering transactions through 2026-04-01; filing does not indicate lateness.

Context

  • The significant "sale" here was a tax-withholding disposition tied to an equity award vesting, not an open-market sale — such withholdings are routine and do not necessarily signal sell-side intent.
  • The (A) code denotes an award/grant; (J) denotes other acquisition (here, dividend reinvestment); (F) denotes shares withheld for tax withholding.
  • Because the withholding was approved under Rule 16b-3(d)(1) and exempt under 16b-3(e), it is not treated as a short-swing profit transaction under Section 16(b).