Form 4: ACI Worldwide Executive Sells Shares to Cover Tax Obligations
SEC Form 4
Abraham Kuruvilla, Chief Technology Officer of ACI Worldwide, sold 1,277 shares of common stock to cover tax liabilities arising from vesting restricted stock units.
Summary
- On September 4, 2024, Abraham Kuruvilla, the Chief Technology Officer of ACI Worldwide, sold 1,277 shares of the company's common stock.
- The sale was executed at a price of $48.58 per share.
- This transaction was done to cover the tax liability incurred upon the vesting of 3,262 restricted stock units, representing one-twelfth of the units granted on March 4, 2024.
- Following the transaction, Kuruvilla directly owns 95,518 shares of ACI Worldwide.
Sentiment
Score: 5
Explanation: This is a routine transaction related to executive compensation and tax obligations, and does not indicate any particular positive or negative sentiment towards the company's prospects.
Industry Context
Executive stock sales for tax purposes are a common occurrence, especially after vesting of restricted stock units. This is a normal part of executive compensation and financial planning.
Key Dates
| Date | Description |
|---|---|
| March 4, 2024 | Date of grant for restricted stock units, one-twelfth of which vested. |
| September 4, 2024 | Date of the stock sale transaction. |
| September 6, 2024 | Date of signature on the Form 4 filing. |
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