Form 4: Assertio Holdings SVP, General Counsel Sam Schlessinger Reports Changes in Beneficial Ownership
SEC Form 4
Sam Schlessinger, SVP, General Counsel of Assertio Holdings, reports the vesting and subsequent disposal of shares to cover tax obligations related to restricted stock units.
Summary
- On May 12, 2024, Sam Schlessinger, SVP, General Counsel of Assertio Holdings, had 38,017 restricted stock units vest.
- These units were settled for 38,017 shares of common stock.
- 16,840 shares were disposed of at a price of $0.96 to cover tax obligations.
- Following these transactions, Schlessinger directly owns 122,055 shares of Assertio Holdings common stock and 38,017 restricted stock units.
Sentiment
Score: 5
Explanation: This is a neutral report on stock transactions related to executive compensation. It doesn't inherently indicate positive or negative sentiment.
Industry Context
This filing is a routine disclosure related to executive compensation and is typical for publicly traded companies.
Comparison to Industry Standards
- Executive compensation packages often include restricted stock units that vest over time.
- The disposal of shares to cover tax obligations upon vesting is a common practice.
- Similar filings can be observed for executives at comparable pharmaceutical companies such as Teva Pharmaceuticals and Mylan.
Stakeholder Impact
- The transaction has a minor impact on shareholders as it involves the vesting and disposal of shares by an executive.
- The impact on employees is indirect, as it relates to executive compensation.
Key Dates
| Date | Description |
|---|---|
| 05/12/2023 | One-third of the restricted stock units were scheduled to vest, assuming continued employment. |
| 05/12/2024 | Vesting of 38,017 restricted stock units and disposal of shares for tax obligations. |
| 05/12/2025 | One-third of the restricted stock units are scheduled to vest, assuming continued employment. |
| 05/14/2024 | Date of the report signature. |
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