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Summit Materials executive sells over $2 million in stock

Published 05/14/2024, 04:50 PM

Summit Materials, Inc. (NYSE:SUM) executive Jason Kilgore, who holds the title of EVP, West Segment Construction Materials, recently engaged in significant transactions involving the company's stock, according to a new SEC filing. On May 13, Kilgore sold a total of 50,589 shares of Class A Common Stock at an average price between $40.15 and $40.4, amounting to approximately $2,033,950.

The transactions were executed in multiple parts, with prices for the shares sold ranging from $40.01 to $40.45 for one set of 39,379 shares, and from $40.34 to $40.45 for another set of 11,210 shares. These sales were conducted in compliance with the issuer's equity ownership guidelines, as noted in the SEC filing footnotes.

In addition to the sales, Kilgore also acquired 50,589 shares at $18.0 per share, totaling $910,602. This transaction is part of an exercise of options that are fully vested, as indicated by a footnote in the document.

Following these transactions, Kilgore's direct holdings in Summit Materials have been adjusted to reflect the new totals. The filing also mentions that Kilgore's total holdings include shares received from a stock dividend paid on December 29, 2022. Additionally, it points out that some of the executive's shares are held by a limited liability company for the benefit of his family, with his spouse serving as manager.

Investors often monitor insider buying and selling activities as they may provide insights into the executive's view of the company's current valuation and future prospects. Summit Materials, Inc., based in Denver, Colorado, operates in the mining and quarrying of nonmetallic minerals sector.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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