Modine (MOD) CFO Michael B. Lucareli Receives Award, Sells Shares

What Happened

• Michael B. Lucareli, EVP and CFO of Modine Manufacturing (MOD), received 73,873 shares in settlement of performance stock and concurrently had 34,721 shares disposed to satisfy tax withholding.
• The awarded shares were issued at $0 (performance award). The withheld/disposed shares were transacted at $295.88 each, producing proceeds of approximately $10,273,249 used to cover taxes.

Key Details

• Transaction dates: May 26, 2026 (award and tax-withholding disposition).
• Award: 73,873 shares granted/issued in settlement of Performance Stock for the 2024–2026 performance period (footnote F1).
• Tax-withholding sale: 34,721 shares disposed at $295.88 per share for $10,273,249 (private transaction to cover tax withholding; footnote F3).
• Holdings note: the filing indicates total holdings include 971 shares held in the reporting person’s Modine 401(k) account (footnote F2). The combined post-transaction total is not specified in the summary provided.
• Filing timing: No late-filing flag provided in the supplied data.

Context

• This was a routine settlement of earned performance shares and a sell-to-cover to satisfy withholding obligations, not an open-market directional sale aimed at liquidity or investment; the disposition was reported as a private transaction to cover taxes.
• For retail investors, awarded shares reflect compensation/retention practices; the tax-withholding sale is administrative and should not be taken alone as a statement about insider sentiment.