Form 4: Acacia Research Corp: Interim CFO Hoover Sells Shares to Cover Tax Obligations

Interim CFO Kirsten Hoover disposed of 3,342 shares of Acacia Research Corp stock on March 21, 2024, to cover tax obligations related to vesting restricted stock.

Summary

• On March 21, 2024, Kirsten Hoover, Interim CFO of Acacia Research Corp, disposed of 3,342 shares of ACTG common stock.
• The transaction was executed to satisfy tax withholding obligations related to the vesting of 8,485 shares of restricted stock on the same date.
• The shares were sold at a price of $5.18 per share.
• Following the transaction, Hoover directly owns 108,748 shares of Acacia Research Corp.
• The transaction was reported on March 25, 2024.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the filing relates to a routine transaction for tax purposes and doesn't indicate any strategic shift or concern about the company's performance.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This transaction is related to tax obligations from vesting restricted stock, which is a common practice.

Stakeholder Impact

• The transaction is unlikely to have a significant impact on stakeholders as it is a routine sale to cover tax obligations.

Key Dates