Form 4: Artivion Executive John E. Davis Reports Stock Transactions Following Performance Stock Unit Vesting
SEC Form 4 Filing
Chief Commercial Officer John E. Davis reports acquisition and disposal of Artivion, Inc. shares related to performance stock unit vesting, including sales to cover tax obligations.
Summary
- On February 23, 2024, John E. Davis, Chief Commercial Officer of Artivion, Inc., acquired 5,386 shares of common stock and 12,736 shares of common stock due to the vesting of performance stock units granted on February 22, 2023.
- On February 26, 2024, Davis sold 1,610 shares and 1,904 shares of common stock at a price of $20.2711 per share.
- These sales were executed to cover tax withholding obligations associated with the vesting of the performance stock units and do not represent discretionary transactions.
- Following these transactions, Davis beneficially owns 162,519 shares of Artivion, Inc. common stock.
Sentiment
Score: 5
Explanation: The document reflects routine executive stock transactions related to compensation and tax obligations, indicating a neutral sentiment.
Future Outlook
25% of the remaining shares earned in connection with the Feb. 2023 grant will be eligible to vest and be issued on 02/22/2025; and 25% on 02/22/2026, assuming employment on the relevant vesting date.
Management Comments
- The sale was to satisfy tax withholding obligations to be funded by a 'sell to cover' transaction and does not represent a discretionary transaction.
Industry Context
Executive stock transactions are a common occurrence in publicly traded companies, often related to compensation plans and tax obligations.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in ownership, but the sales are primarily for tax purposes.
Key Dates
| Date | Description |
|---|---|
| 02/22/2023 | Date of grant for performance stock units. |
| 02/23/2024 | Date of acquisition of shares due to vesting of performance stock units. |
| 02/26/2024 | Date of sale of shares to cover tax withholding obligations. |
| 02/22/2025 | Date when 25% of remaining shares earned in connection with the Feb. 2023 grant will be eligible to vest and be issued, assuming employment on the relevant vesting date. |
| 02/22/2026 | Date when 25% of remaining shares earned in connection with the Feb. 2023 grant will be eligible to vest and be issued, assuming employment on the relevant vesting date. |
| 02/28/2024 | Date of signature for the Form 4 filing. |
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