Form 4: Atomera's Chief Technology Officer Sells Shares to Cover Tax Obligations

Robert J. Mears, Chief Technology Officer of Atomera Inc, sold shares of common stock to cover tax withholding obligations related to vesting restricted stock grants.

Summary

• On March 1, 2024, Robert J. Mears, the Chief Technology Officer of Atomera Inc, sold a total of 2,739 shares of common stock in multiple transactions at a price of $6.2 per share.
• On March 4, 2024, Mears sold 3,294 shares at $6.83 per share.
• These sales were executed to cover tax withholding obligations associated with the vesting of restricted stock grants.
• The sale on March 4, 2024, was conducted under a pre-arranged Rule 10b5-1 trading plan.
• Following these transactions, Mears directly owns 138,730 shares of Atomera Inc, and indirectly owns 2,666 shares through his spouse.

Sentiment

Score: 5

Explanation: The document describes routine stock sales for tax purposes, which is neither particularly positive nor negative.

Industry Context

Insider sales are a common occurrence, especially when related to covering tax obligations on vested stock. The use of a 10b5-1 plan suggests the insider planned these sales in advance to avoid accusations of trading on inside information.

Stakeholder Impact

• The stock sales could have a minor negative impact on shareholders due to slight dilution, but the impact is likely minimal given the reason for the sale.

Key Dates