Form 4: B. Riley Financial President Kenneth Young Reports Share Disposal for Tax Obligations
SEC Form 4
Kenneth Young, President of B. Riley Financial, disposed of 5,076 shares to cover tax obligations related to vesting restricted stock units.
Summary
- On May 31, 2024, Kenneth M. Young, President of B. Riley Financial, disposed of 5,076 shares of common stock to cover tax obligations.
- The shares were withheld by the company and remitted on behalf of Young for payment of taxes related to the vesting of shares from Restricted Stock Units granted on May 31, 2021, and May 24, 2022.
- The transaction price was $24.81 per share.
- Following the transaction, Young directly owns 224,726 shares and indirectly owns 32,085 shares through the Kenneth M. Young Revocable Trust U/A 5/8/15.
Sentiment
Score: 5
Explanation: This is a neutral event. It's a routine transaction related to tax obligations and doesn't necessarily indicate a positive or negative outlook for the company.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This transaction is a common occurrence where executives sell shares to cover tax obligations related to vesting equity.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a small percentage of the total outstanding shares.
Key Dates
| Date | Description |
|---|---|
| 05/08/2015 | Date of the Kenneth M. Young Revocable Trust U/A |
| 05/31/2021 | Date of grant for some of the Restricted Stock Units |
| 05/24/2022 | Date of grant for some of the Restricted Stock Units |
| 05/31/2024 | Date of the share disposal transaction |
| 06/04/2024 | Date of signature on the Form 4 |
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