Form 4: BBX Capital Executive Seth Wise Reports Share Disposal for Tax Obligations
SEC Form 4
Executive Vice President Seth Wise of BBX Capital, Inc. reports disposing of shares to cover tax obligations related to vesting restricted stock awards.
Summary
- On October 1, 2024, Seth M. Wise, Executive Vice President of BBX Capital, Inc., disposed of 57,431 shares of Class A Common Stock to satisfy tax withholding obligations.
- The shares were surrendered to the issuer and have been cancelled and retired.
- The transaction occurred at a price of $8.04 per share, which was the closing price of BBX Capital's Class A Common Stock on September 30, 2024.
- Following the transaction, Wise directly owns 490,638 shares of Class A Common Stock and 335,157 shares of Class B Common Stock.
- Wise also indirectly owns 50 shares of Class A Common Stock through his spouse's IRA and 14 shares through his own IRA.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing related to stock transactions for tax purposes, indicating a neutral sentiment.
Industry Context
This filing is a routine disclosure related to executive compensation and tax obligations, common in publicly traded companies.
Stakeholder Impact
- The disposal of shares has a minor dilutive effect on existing shareholders.
Key Dates
| Date | Description |
|---|---|
| 09/30/2024 | Closing price of Class A Common Stock was $8.04. |
| 10/01/2024 | Date of transaction: disposal of shares to cover tax obligations. |
| 10/02/2024 | Date of signature on the Form 4 filing. |
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