Form 4: Avista Corp Executive Sells Shares to Cover Taxes on Vested Stock

Gregory Curtis Hesler, a Senior Vice President and Corporate Secretary at Avista Corp, sold 958 shares of common stock to cover income taxes related to previously vested restricted shares.

Summary

• Gregory Curtis Hesler, a Senior Vice President and Corporate Secretary at Avista Corp, sold 958 shares of common stock on January 6, 2025.
• The sale was executed at a price of $35.24 per share.
• This transaction was to cover income tax obligations on restricted shares that vested on the same date.
• The vested shares were related to the final third of 2022, the second third of 2023, and the first third of 2024 restricted stock grants.
• Following the transaction, Hesler directly owns 13,465 shares of Avista Corp stock.

Sentiment

Score: 5

Explanation: This is a neutral event, a routine transaction for an executive to cover tax obligations on vested stock. It does not indicate any positive or negative sentiment about the company's performance.

Industry Context

This is a routine transaction for executives who receive stock-based compensation. It is common for executives to sell shares to cover tax liabilities when restricted stock vests.

Comparison to Industry Standards

• Executive stock sales to cover taxes are a common practice across publicly traded companies.
• The sale of 958 shares is relatively small compared to the total shares owned by the executive, which is 13,465 shares.
• Similar transactions are regularly reported by executives at other utility companies and across various industries.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine sale by an executive to cover tax obligations.

Key Dates

Keywords

Avista Corp, insider trading, stock sale, executive compensation, restricted stock, Form 4, Gregory Curtis Hesler