Form 4: Assertio Holdings SVP, CCO Paul Schwichtenberg Reports Stock Transactions
SEC Form 4 Filing
Paul Schwichtenberg, SVP and CCO of Assertio Holdings, reports the vesting and subsequent withholding of shares for tax obligations related to restricted stock units.
Summary
- On May 12, 2024, Paul Schwichtenberg, SVP and CCO of Assertio Holdings, had restricted stock units vest and settled for 38,017 shares of common stock.
- Of these shares, 16,840 were withheld to cover tax obligations at a price of $0.96 per share.
- Following these transactions, Schwichtenberg directly owns 125,101 shares of Assertio Holdings common stock and 38,017 restricted stock units.
- The restricted stock units were granted to Schwichtenberg and not sold, meaning he paid no consideration for them.
- One-third of the restricted stock units vest annually on May 12, 2023, 2024, and 2025, contingent upon continued employment.
Sentiment
Score: 5
Explanation: This is a neutral event. It's a standard reporting of stock transactions related to executive compensation.
Future Outlook
The remaining restricted stock units are scheduled to vest on May 12, 2025, assuming continued employment.
Industry Context
This Form 4 filing is a routine disclosure of insider transactions, providing transparency to investors regarding the actions of company executives. It is standard practice for executives to receive stock-based compensation and for shares to be withheld to cover tax obligations upon vesting.
Stakeholder Impact
- The transaction has a minor impact on shareholders as it reflects the standard vesting of executive compensation.
- Employees are impacted as it relates to the vesting schedule of their compensation.
Key Dates
| Date | Description |
|---|---|
| 05/12/2023 | One-third of restricted stock units vested, assuming continued employment. |
| 05/12/2024 | Vesting of 38,017 restricted stock units and withholding of 16,840 shares for taxes. |
| 05/12/2025 | Remaining restricted stock units scheduled to vest, assuming continued employment. |
| 05/14/2024 | Date of Form 4 signature. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.