Form 4: Altice USA Chairman and CEO Dennis Mathew Reports Stock Disposal for Tax Obligations
SEC Form 4 Filing
Dennis Mathew, Chairman and CEO of Altice USA, reports disposing of shares to cover tax obligations upon vesting of restricted share units.
Summary
- On October 25, 2024, Dennis Mathew, Chairman and CEO of Altice USA, disposed of 440,087 shares of Class A common stock to cover tax obligations.
- The shares were withheld for taxes upon the vesting of restricted share units granted under the Altice USA 2017 Long Term Incentive Plan.
- The transaction price was $2.44 per share.
- Following the transaction, Mathew directly owns 2,234,621 shares of Altice USA Class A common stock.
Sentiment
Score: 5
Explanation: The document is a routine disclosure of a stock transaction related to tax obligations, indicating a neutral sentiment.
Industry Context
This type of transaction, where shares are disposed of to cover tax obligations upon vesting of restricted stock units, is a common practice among corporate executives.
Comparison to Industry Standards
- Similar transactions are routinely disclosed by executives at publicly traded companies like Comcast, Charter Communications, and Verizon, as part of their compensation packages.
- These companies also utilize long-term incentive plans that include restricted stock units, leading to similar tax-related stock disposals.
Key Dates
| Date | Description |
|---|---|
| 10/25/2024 | Date of stock disposal transaction |
| 10/29/2024 | Date of signature on the Form 4 filing |
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