4/A: Artivion Executive Corrects Stock Sale Reporting After Performance Stock Unit Vesting
SEC Filing
John E. Davis, Chief Commercial Officer of Artivion, Inc., files an amended Form 4 to correct the number of shares sold to cover tax withholding obligations upon the vesting of performance stock units.
Summary
- John E. Davis, Chief Commercial Officer of Artivion, Inc., filed an amended Form 4 with the SEC.
- The amendment corrects an administrative error in the original filing regarding the number of shares sold on February 26, 2024, to cover tax withholding obligations after performance stock units vested.
- The original Form 4 incorrectly reported the sale of 1,610 and 1,904 shares in two separate transactions, while the corrected numbers are 1,586 and 1,875 shares, respectively.
- Davis acquired 5,386 and 12,736 shares of common stock on February 23, 2024, related to performance stock units vesting.
- Following the reported transactions, Davis beneficially owns 162,572 shares of Artivion, Inc.
- The sales were executed to satisfy tax withholding obligations via 'sell to cover' transactions and were not discretionary.
Sentiment
Score: 7
Explanation: The document is a routine correction of a previous filing, indicating standard corporate governance procedures. The transactions are related to compensation and tax obligations, which are normal business operations.
Future Outlook
The remaining shares earned in connection with the Feb. 2023 grant will be eligible to vest and be issued as follows: 25% on 02/22/2025; and 25% on 02/22/2026, assuming employment on the relevant vesting date.
Industry Context
Form 4 filings are routine disclosures required by the SEC when company insiders, like officers and directors, trade their company's stock; this filing is an amendment to correct a previous error.
Key Dates
| Date | Description |
|---|---|
| 02/22/2023 | Date of grant for performance stock units. |
| 02/23/2024 | Date of acquisition of 5,386 and 12,736 shares of common stock due to performance stock units vesting. |
| 02/26/2024 | Date of sale of 1,586 and 1,875 shares of common stock to cover tax withholding obligations. |
| 02/28/2024 | Date of original Form 4 filing. |
| 03/14/2024 | Date of amended Form 4/A filing. |
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