RILY.NASDAQB Riley Financial, INC

Form 4: B. Riley Financial Co-CEO Thomas Kelleher Reports Share Disposal for Tax Obligations

Sentiment:

SEC Form 4 Filing

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Thomas Kelleher, Co-CEO of B. Riley Financial, disposed of 11,254 shares to cover tax obligations related to vesting restricted stock units.

Summary

  • On May 31, 2024, Thomas J. Kelleher, Co-CEO of B. Riley Financial, disposed of 11,254 shares of common stock to cover tax obligations.
  • The shares were withheld by the company and remitted on behalf of Kelleher for payment of taxes related to the vesting of restricted stock units granted on May 31, 2021, and May 24, 2022.
  • Following the transaction, Kelleher directly owns 151,120 shares.
  • Kelleher also indirectly owns 902,288 shares through the Kelleher Family Trust, 34,118 shares through a self-directed IRA, and 5,600 shares held with dispositive power for his wife.
  • Additionally, he indirectly owns 3,405 shares each with dispositive power for three daughters.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction related to tax obligations, indicating a neutral sentiment.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates a standard transaction to cover tax obligations related to vested equity.

Stakeholder Impact

  • The transaction has a minimal impact on shareholders as it is a routine disposal of shares for tax purposes.

Key Dates

DateDescription
05/31/2021Date of grant of Restricted Stock Units related to the share disposal.
05/24/2022Date of grant of Restricted Stock Units related to the share disposal.
05/31/2024Date of the share disposal transaction.
06/04/2024Date of signature of the Form 4 filing.

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