Skechers USA Inc . (NYSE:SKX) Executive Vice President Mark Nason recently engaged in transactions involving the company's Class A Common Stock, according to a new SEC filing. On March 15, Nason sold 6,067 shares at a price of $61.11 per share, totaling approximately $370,754.
In addition to the sale, the filing revealed that Nason acquired 12,303 shares under performance-based stock awards on March 14, which vested as part of a three-year total stock return period that began on March 1, 2021. These shares were issued at no cost to the executive.
Furthermore, Nason disposed of 6,236 shares on the same day to cover tax liabilities in a transaction known as a net settlement, which amounted to $383,015 at a price of $61.42 per share.
On the following day, Nason was awarded an additional 15,000 restricted shares of Class A Common Stock. One-third of these shares are set to vest annually starting from March 1, 2025. The award includes a performance-based component that could vary the final number of shares vested based on the company's achievement of specific performance metrics over the next three years.
After these transactions, Nason's direct ownership in Skechers stands at 29,022.604 shares, as per the document filed with the SEC. The recent sales and awards reflect routine executive compensation and stock ownership adjustments within Skechers USA Inc.
InvestingPro Insights
As Skechers USA Inc. (NYSE:SKX) navigates through its executive stock transactions, the company's financial health and market performance remain vital for investors. According to InvestingPro data, Skechers is currently trading with a P/E ratio of 17.28, which is moderately priced when considering the company's near-term earnings growth. This aligns with one of the InvestingPro Tips, suggesting Skechers is trading at a low P/E ratio relative to its expected earnings growth, potentially indicating an investment opportunity for value-seeking shareholders.
InvestingPro data also highlights that Skechers has experienced a substantial 28.56% price uptick over the last six months, reflecting investor confidence and market momentum. This is further supported by the company's strong fundamentals, including a gross profit margin of 51.9% for the last twelve months as of Q4 2023, showcasing the company's ability to generate profits efficiently.
Another InvestingPro Tip points out that Skechers' liquid assets exceed its short-term obligations, which underscores the company's solid financial position and its capability to meet its immediate liabilities. This is an essential aspect for investors to consider, especially when evaluating the company's financial resilience in the face of market volatility.
For those looking to delve deeper into Skechers' performance and gain more insights, they can explore additional tips on InvestingPro. Currently, there are seven more InvestingPro Tips available that could provide a more comprehensive understanding of the company's financial health and future prospects. To access these insights, readers can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, offering a valuable resource for informed investment decisions.
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