Form 4: Beneficient Director Emily Hill Reports Share Withholding for Tax Obligations

Director Emily Hill reports the withholding of Class A common stock by Beneficient to cover tax obligations related to the settlement of restricted stock units.

Summary

• Emily B. Hill, a director of Beneficient, filed a Form 4 detailing changes in her beneficial ownership of the company's stock.
• On June 7, 2024, 125 shares of Class A common stock were withheld by Beneficient at a price of $5.38 per share to satisfy tax withholding obligations related to the settlement of restricted stock units (RSUs).
• Following the transaction, Hill beneficially owns 1,143 shares of Class A common stock.
• This includes shares issuable upon the settlement of RSUs granted under the 2023 Equity Incentive Plan and restricted equity units (REUs) granted under the 2018 Equity Incentive Plan.
• The shares shown have been retroactively adjusted to reflect Beneficient's reverse stock split of its outstanding shares of Class A common stock, par value $0.001 per share ('Class A common stock'), and Class B common stock, par value $0.001 per share, on a 1-for-80 basis effected on April 18, 2024.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing, indicating a neutral sentiment.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Stakeholder Impact

• The transaction has a minor impact on shareholders as it reflects standard tax withholding procedures.

Key Dates

Keywords

Form 4, Beneficient, Emily Hill, Class A Common Stock, Tax Withholding, Restricted Stock Units, Director, Beneficial Ownership, Reverse Stock Split