Form 4: Allegro Microsystems Executive Max R. Glover Sells Shares to Cover Taxes

Max R. Glover, SVP of Worldwide Sales at Allegro Microsystems, sold 2,644 shares of common stock to cover taxes due upon the vesting of restricted stock units.

Summary

• Max R. Glover, a Senior Vice President at Allegro Microsystems, sold 2,644 shares of the company's common stock on November 18, 2024.
• The sale was executed at a price of $19.24 per share.
• This transaction was to cover taxes due upon the vesting of restricted stock units previously granted to Mr. Glover.
• Following the transaction, Mr. Glover directly owns 266,339 shares of Allegro Microsystems common stock.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction for tax purposes, not indicative of any positive or negative sentiment towards the company's performance.

Industry Context

This is a routine transaction for executives who receive stock-based compensation. It is common for executives to sell shares to cover tax obligations when restricted stock units vest.

Comparison to Industry Standards

• Similar transactions are common among executives at publicly traded companies, especially when dealing with stock-based compensation.
• Companies like Texas Instruments, Analog Devices, and NXP Semiconductors also see similar Form 4 filings from their executives.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine sale by an executive for tax purposes.

Key Dates

Keywords

Allegro Microsystems, insider trading, stock sale, executive, Form 4, restricted stock units, tax withholding