Form 4: Beneficient Executive Jeff Welday Sells Shares to Cover Tax Obligations
SEC Form 4
Beneficient executive Jeff Welday sold a total of 1,675 Class A common shares to cover tax obligations related to the vesting of restricted stock units.
Summary
- Jeff Welday, a Global Head of Organizations and Distribution at Beneficient, sold 1,199 shares of Class A common stock on January 29, 2025, 306 shares on January 30, 2025, and 170 shares on January 31, 2025.
- All shares were sold at a price of $0.62 per share.
- These sales were made to cover tax withholding obligations associated with the vesting and settlement of restricted stock units (RSUs).
- Following these transactions, Welday still beneficially owns 150,605 shares of Class A common stock.
- The reported holdings include shares issuable upon the settlement of various RSU and restricted equity unit (REU) awards granted under the company's 2018 and 2023 equity incentive plans.
Sentiment
Score: 5
Explanation: The document is a routine SEC filing related to stock sales for tax purposes, and does not indicate any positive or negative sentiment.
Industry Context
This is a routine filing related to executive stock transactions and is common for publicly traded companies.
Comparison to Industry Standards
- Executive stock sales to cover tax obligations are a common practice across publicly traded companies.
- The vesting schedules and equity incentive plans described are typical for companies using equity-based compensation.
Stakeholder Impact
- The stock sales by Jeff Welday may have a minor impact on the share price, but are not expected to be significant.
Key Dates
| Date | Description |
|---|---|
| 01/01/2020 | Grant date of 140,490 restricted equity units (REUs) under the 2018 Equity Incentive Plan, vesting 20% on grant date and the remaining 80% in four equal annual installments on June 3rd of each subsequent calendar year. |
| 04/01/2022 | Grant date of 7,200 REUs under the 2018 Equity Incentive Plan, vesting 40% on June 8, 2023, and the remaining 60% in three equal annual installments on April 1st of each subsequent calendar year. |
| 07/15/2023 | Grant date of 28,320 RSUs under the 2023 Equity Incentive Plan, vesting 20% on September 1, 2023, and the remaining 80% in four equal annual installments on September 1st of each subsequent calendar year. |
| 07/15/2023 | Grant date of 20,560 RSUs under the 2023 Equity Incentive Plan, fully vested on September 1, 2023. |
| 08/22/2024 | Grant date of 98,919 RSUs under the 2023 Equity Incentive Plan, fully vested on the date of grant. |
| 08/22/2024 | Grant date of 998 RSUs under the 2023 Equity Incentive Plan, fully vested on the date of grant. |
| 10/17/2024 | Grant date of 58,249 RSUs under the 2023 Equity Incentive Plan, fully vested on the date of grant. |
| 01/14/2025 | Grant date of 61,592 RSUs under the 2023 Equity Incentive Plan, fully vested on the date of grant. |
| 01/16/2025 | Grant date of 1,670 RSUs under the 2023 Equity Incentive Plan, fully vested on the date of grant. |
| 01/29/2025 | Sale of 1,199 Class A common shares by Jeff Welday. |
| 01/30/2025 | Sale of 306 Class A common shares by Jeff Welday. |
| 01/31/2025 | Sale of 170 Class A common shares by Jeff Welday. |
| 01/31/2025 | Date of the SEC Form 4 filing. |
Keywords
Beneficient, Jeff Welday, Class A Common Stock, SEC Form 4, Stock Sale, Restricted Stock Units, RSUs, REUs, Equity Incentive Plan, Tax Withholding
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