Form 4: Acacia Research Corp Interim CFO Kirsten Hoover Reports Stock Transaction

Interim CFO of Acacia Research Corp, Kirsten Hoover, reports the withholding of 3,568 shares to cover tax obligations related to vesting of restricted stock.

Summary

• Kirsten Hoover, the Interim CFO of Acacia Research Corp, filed a Form 4 indicating a transaction on November 12, 2024.
• The transaction involved the withholding of 3,568 shares of ACTG common stock at a price of $4.31 per share.
• This withholding was to satisfy tax obligations related to the vesting of 10,000 shares of restricted stock.
• Following the transaction, Ms. Hoover directly owns 98,735 shares of ACTG common stock.

Sentiment

Score: 7

Explanation: The document is a routine regulatory filing, indicating a neutral event. The transaction is expected and does not suggest any positive or negative sentiment.

Industry Context

This is a routine filing related to insider transactions and is common for publicly traded companies. It provides transparency into the stock ownership of company executives.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies in the US, as mandated by the SEC.
• The transaction is typical for executives receiving stock-based compensation, where a portion of shares are withheld to cover taxes.
• Similar filings can be seen across the technology and intellectual property sectors, where stock options and restricted stock are common forms of compensation.

Stakeholder Impact

• The transaction has a minor impact on shareholders as it is a standard tax withholding event.
• The transaction does not directly impact employees, customers, suppliers, or creditors.

Key Dates

Keywords

Form 4, insider trading, stock transaction, restricted stock, tax withholding, Acacia Research Corp, ACTG, Kirsten Hoover, Interim CFO