Form 4: AvePoint Chief Legal Officer Brian Michael Brown Reports Stock Transaction
SEC Form 4 Filing
Brian Michael Brown, Chief Legal Officer of AvePoint, Inc., reports a transaction involving the withholding of shares to cover tax obligations related to vested restricted stock units (RSUs).
Summary
- On September 13, 2024, Brian Michael Brown, the Chief Legal Officer of AvePoint, Inc., reported a transaction on Form 4.
- The transaction involved the withholding of 5,010 shares of common stock at a price of $11.90 to cover tax liabilities associated with the vesting of restricted stock units (RSUs).
- Following the transaction, Brown beneficially owns 1,265,053 shares of AvePoint's common stock, including both non-RSU common stock and vested/unvested RSUs.
- The reported transaction was exempt under Rule 16b-3, as it involved the company withholding shares to satisfy income tax obligations.
Sentiment
Score: 7
Explanation: The document is a routine regulatory filing detailing a standard tax withholding transaction. It doesn't indicate any significant positive or negative developments for the company.
Industry Context
Form 4 filings are a routine part of insider trading regulations, providing transparency into the transactions of company executives and directors. This filing indicates a standard practice of withholding shares to cover tax obligations upon the vesting of RSUs, which is a common form of executive compensation.
Comparison to Industry Standards
- Similar transactions are common among publicly traded companies, where executives often receive stock-based compensation.
- Companies like Microsoft, Amazon, and Google also report similar transactions by their executives related to stock options and RSUs.
- The practice of withholding shares for tax obligations is a standard procedure to simplify tax compliance for both the employee and the company.
Stakeholder Impact
- The transaction has a minimal direct impact on shareholders, as it is a routine tax-related activity.
- Employees receiving RSUs may find this information useful for understanding the tax implications of their compensation.
Key Dates
| Date | Description |
|---|---|
| 09/03/2021 | Date of Form 4 filing with the Securities and Exchange Commission. |
| 03/22/2022 | Date of Form 4 filing with the Securities and Exchange Commission. |
| 03/23/2023 | Date of Form 4 filing with the Securities and Exchange Commission. |
| 03/07/2024 | Date of Form 4 filing with the Securities and Exchange Commission. |
| 09/13/2024 | Date of the reported transaction (stock withholding for tax obligations). |
| 09/16/2024 | Date of signature on the Form 4 filing. |
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