What happened
Scorpio Tankers Inc. ( NYSE: STNG ) Vice President Filippo Lauro sold 135,100 common shares on Oct. 30.
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The sales were made at prices from $92.22 to $92.62 a share and totaled about $12.49 million. The 35,100-share block sold at the low end of that range and one 50,000-share block at the high end.
Lauro held 468,750 shares afterward, all of them unvested. By OptimistFi's calculation, the sale equals 22.4% of the 603,850 shares Lauro held before the trade.
The filing says every share sold had vested under the issuer's 2013 Equity Incentive Plan. The Form 4 lists the sales as three separate lines.
Key numbers
Metric Latest Change Source
Shares sold 135,100 shares SEC Form 4
Sale price range $92.22 to $92.62 per share SEC Form 4
Total sale value about $12.49 million SEC Form 4
Shares held after the sale 468,750 shares SEC Form 4
Share of pre-trade holding sold 22.4% Calculated from SEC Form 4
Why it matters
The sale is large relative to Lauro's holding, but the filing describes every share sold as a vested plan award. The form shows Lauro sold only vested shares and kept only unvested ones.
Three details frame the sale. Lauro is listed as an officer, not a di...