Form 4: Astera Labs CFO Reports Share Transactions Following IPO
SEC Form 4 Filing
Michael Truett Tate, CFO of Astera Labs, reports the withholding of shares for tax obligations and the conversion of Series A Preferred Stock to Common Stock following the company's IPO.
Summary
- On March 20, 2024, Astera Labs withheld 28,689 shares of common stock from Michael Truett Tate to cover tax obligations related to vesting restricted stock units at a price of $36 per share.
- On March 22, 2024, 879,108 shares of Series A Preferred Stock held by the Tate Trust were converted into common stock.
- Following these transactions, Tate directly owns 1,271,380 shares of common stock and indirectly owns 2,150,488 shares through the Tate Trust.
Sentiment
Score: 7
Explanation: The document is a routine regulatory filing detailing share transactions. It doesn't contain overtly positive or negative information, but the IPO and conversion of preferred stock are generally positive events.
Industry Context
Form 4 filings are standard practice for company insiders to report changes in their ownership of company securities, providing transparency to investors.
Stakeholder Impact
- The transactions reported in the Form 4 provide transparency to shareholders regarding the CFO's ownership stake in the company.
Key Dates
| Date | Description |
|---|---|
| 03/20/2024 | Astera Labs withheld 28,689 shares of common stock for tax obligations. |
| 03/22/2024 | 879,108 shares of Series A Preferred Stock converted to common stock. |
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