HILLIARD, OH – Robert M. Klein, the Executive Vice President of Sales at Advanced Drainage Systems, Inc. (NYSE:WMS), has sold 3,059 shares of company stock, according to a recent SEC filing. The transaction, which took place on May 24, 2024, amounted to a total of $538,231, with shares sold at a price of $175.9502 each.
In addition to the sale, Klein also acquired shares through the exercise of options, which were not immediately sold. The exercised options totaled 3,059 shares, with prices ranging from $96.51 to $105.82, amounting to a total of $306,087. These transactions reflect the exercise of options that vested in three equal annual installments, contingent upon Klein's continuous employment with the company.
The options exercised by Klein had various vesting schedules. Some vested as early as May 18, 2022, while others will vest in annual installments through May 21, 2024. The details of these vesting schedules were outlined in footnotes to the SEC filing, which emphasized the requirement of continuous employment for the options to vest.
Following the sell transaction, Klein's direct ownership in Advanced Drainage Systems stands at 102,070 shares. The company, known for its plastic foam products in the industrial applications and services sector, is incorporated in Delaware with a fiscal year end on March 31.
Investors often scrutinize insider transactions like these for insights into executives' perspectives on their company's stock. The sale of a significant amount of stock by an executive could attract the attention of the market, as it may signal their belief in the company's future prospects. However, it is also common for executives to sell shares for personal financial planning purposes.
Advanced Drainage Systems has not issued any public statement regarding this transaction, and it remains a routine disclosure required by SEC regulations. The company's shares continue to be traded on the New York Stock Exchange under the ticker symbol WMS.
InvestingPro Insights
Advanced Drainage Systems, Inc. (NYSE:WMS) has been drawing attention not only through insider transactions but also through its financial performance and market valuation. As per the latest data from InvestingPro, the company boasts a Market Cap of $13.29 billion USD, reflecting its significant presence in the industrial applications sector. Moreover, the company’s P/E Ratio stands at 26.28, indicating how investors are valuing its earnings.
An InvestingPro Tip highlights that Advanced Drainage Systems has raised its dividend for 3 consecutive years, showcasing a commitment to returning value to shareholders. Additionally, three analysts have revised their earnings upwards for the upcoming period, suggesting a positive outlook on the company’s financial performance.
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