FAST - Major Exercise Alert: Michael Jeffery Watts Exercises Options Worth $959K At Fastenal | Benzinga
A large exercise of company stock options by Michael Jeffery Watts, Chief Sales Officer at Fastenal (NASDAQ:FAST) was disclosed in a new SEC filing on February 22, as part of an insider exercise.
What Happened: Watts, Chief Sales Officer at Fastenal, exercised stock options for 19,420 shares of FAST stock. This information was disclosed in a Form 4 filing with the U.S. Securities and Exchange Commission on Thursday. The exercise price of the options was $23.06 per share.
As of Friday morning, Fastenal shares are up by 0.53%, with a current price of $72.44. This implies that Watts's 19,420 shares have a value of $959,044.
All You Need to Know About Fastenal
Fastenal opened its first fastener store in 1967 in Winona, Minnesota. Since then, Fastenal has greatly expanded its footprint as well as its products and services. Today, Fastenal serves its 400,000 active customers through approximately 1,600 branches, over 1,700 on-site locations, and 14 distribution centers. Since 1993, the company has added other product categories, but fasteners remain its largest category at about 30%-35% of sales. Fastenal also offers customers supply-chain solutions, such as vending and vendor-managed inventory.
A Deep Dive into Fastenal's Financials
Revenue Growth: Fastenal displayed positive results ...