Form 4: Avista Corp Executive Vice President Sells Shares to Cover Taxes

Executive Vice President of Avista Corp, Dennis P. Vermillion, sold 5,066 shares of common stock to cover income taxes related to vesting restricted shares.

Summary

• Dennis P. Vermillion, an Executive Vice President at Avista Corp, sold 5,066 shares of common stock on January 6, 2025.
• The sale was executed at a price of $35.24 per share.
• The shares were sold to cover income tax obligations related to restricted shares that vested on the same date.
• These restricted shares were from the final third of 2022, the second third of 2023, and the first third of 2024.
• Following the transaction, Vermillion directly owns 165,942 shares and indirectly owns 121.11 shares through a 401(k) plan.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction for tax purposes, not indicative of positive or negative sentiment towards the company.

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 obligations when restricted stock vests.

Comparison to Industry Standards

• Executive stock sales to cover taxes are a common practice across publicly traded companies.
• The amount of shares sold is relatively small compared to the total holdings of the executive, suggesting this is a routine tax-related transaction rather than a significant change in sentiment.
• Similar transactions are regularly reported by executives at comparable utility companies.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine sale by an executive for tax purposes.

Key Dates

Keywords

Avista Corp, insider trading, stock sale, executive compensation, restricted stock, Form 4, Dennis P. Vermillion