Form 4: AIG CEO Peter Zaffino Reports Stock Disposal for Tax Obligations
SEC Form 4 Filing
Peter Zaffino, CEO of American International Group (AIG), disposed of 128,435 shares of common stock to cover tax obligations related to vested performance and restricted stock units.
Summary
- On February 27, 2024, Peter Zaffino, the Chairman & CEO of American International Group, Inc. (AIG), reported a transaction involving the disposal of AIG common stock.
- The transaction involved the withholding of 128,435 shares at a price of $71.95 per share.
- This disposal was to cover tax obligations related to the settlement of 2021 Performance Stock Units and 2022 Restricted Stock Units that vested on January 1, 2024, and February 22, 2024, respectively.
- Following the transaction, Zaffino directly owns 505,420 shares of AIG common stock.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing related to stock transactions by a company executive. It doesn't inherently convey positive or negative sentiment, as it simply reports factual information.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates that the CEO is managing his equity compensation and tax obligations.
Stakeholder Impact
- The transaction has a minimal impact on shareholders, as it is a routine disposal of shares for tax purposes and does not indicate a change in the CEO's confidence in the company.
Key Dates
| Date | Description |
|---|---|
| 01/01/2024 | Vesting date of 2021 Performance Stock Units |
| 02/22/2024 | Vesting date of 2022 Restricted Stock Units |
| 02/27/2024 | Date of stock disposal for tax obligations |
| 02/29/2024 | Date of Form 4 filing |
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