Form 4: Arteris Inc. CFO Nicholas Hawkins Sells Shares to Cover Tax Obligations

Nicholas Hawkins, CFO of Arteris, Inc., sold shares of common stock on April 2nd and 4th, 2024, to cover tax liabilities related to the release of restricted stock units.

Summary

• Nicholas B. Hawkins, the VP and Chief Financial Officer of Arteris, Inc., reported the sale of Arteris, Inc. common stock on April 2nd and 4th, 2024.
• The sales were executed to cover tax liabilities arising from the release of restricted stock units.
• On April 2nd, Hawkins sold 1,704 shares at $7.0267 per share and another 1,727 shares at the same price.
• On April 4th, Hawkins sold 2,242 shares at a weighted average price of $7.2809, with individual prices ranging from $7.01 to $7.63.
• Following these transactions, Hawkins directly owns 262,896 shares of Arteris, Inc., which includes 111,519 restricted stock units.
• The sale on April 4th was conducted under a pre-arranged 10b5-1 trading plan adopted on May 12, 2023.

Sentiment

Score: 6

Explanation: The document is a standard SEC Form 4 filing, indicating routine transactions. The sales were to cover tax obligations, which is a neutral event. Therefore, the sentiment is neutral.

Industry Context

Sales by company executives are a normal part of corporate governance. It is important to note that the sale was to cover tax obligations and was executed under a pre-arranged 10b5-1 trading plan, which is a common practice to avoid insider trading accusations.

Stakeholder Impact

• The sale of shares by an executive could have a minor impact on shareholder sentiment, but the impact is likely to be minimal given the reason for the sale and the existence of a pre-arranged trading plan.

Key Dates