Form 4: Astera Labs CFO Sells Shares to Cover Tax Obligations

Michael Truett Tate, CFO of Astera Labs, sold 13,915 shares of common stock to cover tax withholding obligations related to vesting restricted stock units.

Summary

• On August 16, 2024, Michael Truett Tate, the Chief Financial Officer of Astera Labs, Inc. (ALAB), sold 13,915 shares of the company's common stock.
• The sale was executed to satisfy tax withholding obligations associated with the vesting and settlement of restricted stock units previously granted to Mr. Tate.
• The shares were sold at a weighted average price of $41.79, with individual transactions ranging from $41.78 to $41.86.
• Following the transaction, Mr. Tate directly owns 1,326,908 shares and indirectly owns 879,108 shares through the Tate Trust.
• The sale was mandated by an election of the Issuer made in advance of the vesting event to require the satisfaction of tax withholding obligations to be funded by a 'sell to cover'.

Sentiment

Score: 5

Explanation: The document describes a routine transaction (sell to cover taxes) and doesn't indicate any significant positive or negative sentiment.

Industry Context

Sales of shares to cover tax obligations upon vesting of restricted stock units are a common practice among corporate executives. This transaction reflects a standard procedure for managing tax liabilities associated with equity compensation.

Stakeholder Impact

• The sale of shares by the CFO could have a minor, temporary impact on the stock price, but is unlikely to have a significant long-term effect.

Key Dates