Form 4: Alto Ingredients COO Todd Benton Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Alto Ingredients' Chief Operating Officer, Todd E. Benton, disposed of 7,402 shares of common stock on April 1, 2024, to cover withholding taxes upon vesting of restricted stock.
Summary
- On April 1, 2024, Todd E. Benton, the Chief Operating Officer of Alto Ingredients, Inc., disposed of 7,402 shares of common stock.
- The transaction was executed to cover withholding taxes associated with the vesting of restricted stock.
- The shares were sold at a price of $2.29 per share.
- Following the transaction, Benton directly owns 133,612 shares of Alto Ingredients common stock.
Sentiment
Score: 5
Explanation: Neutral sentiment as it's a routine transaction for tax purposes.
Industry Context
This is a routine Form 4 filing, indicating insider activity related to stock compensation. It's common for executives to sell shares to cover tax obligations when restricted stock vests.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a standard procedure for covering tax obligations.
Key Dates
| Date | Description |
|---|---|
| 04/01/2024 | Date of transaction: Todd E. Benton disposed of shares. |
| 04/02/2024 | Date of signature on the Form 4 filing. |
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