Form 4: Beneficient Officer Jeff Welday Sells Class A Common Stock to Cover Tax Obligations
SEC Form 4
Jeff Welday, a Global Head of Organizations and Distribution at Beneficient, sold Class A Common Stock to cover tax withholding obligations related to the vesting of restricted stock units.
Summary
- Jeff Welday, a Global Head of Organizations and Distribution at Beneficient, filed a Form 4 indicating changes in beneficial ownership.
- Welday sold Class A Common Stock on February 20, 2025, February 21, 2025, and February 24, 2025, at prices of $0.45, $0.44, and $0.42 respectively.
- These sales were to cover tax withholding obligations related to the vesting and settlement of restricted stock units (RSUs).
- Following these transactions, Welday directly owns 142,267 shares of Class A Common Stock.
- This amount includes shares issuable upon the settlement of various RSU and REU awards granted under the company's equity incentive plans.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing related to stock sales for tax obligations, indicating a neutral sentiment.
Industry Context
Form 4 filings are a routine part of the US stock market and are required by the SEC to provide transparency into the transactions of company insiders.
Stakeholder Impact
- The sale of shares by an officer could have a minor negative impact on shareholder sentiment, although it is a common practice for covering tax obligations.
Key Dates
| Date | Description |
|---|---|
| January 1, 2020 | Date of grant for 140,490 restricted equity units (REUs) under the 2018 Equity Incentive Plan. |
| April 1, 2022 | Date of grant for 7,200 REUs under the 2018 Equity Incentive Plan. |
| July 15, 2023 | Date of grant for 28,320 RSUs and 20,560 RSUs under the 2023 Equity Incentive Plan. |
| August 22, 2024 | Date of grant for 98,919 RSUs and 998 RSUs under the 2023 Equity Incentive Plan. |
| October 17, 2024 | Date of grant for 58,249 RSUs under the 2023 Equity Incentive Plan. |
| January 14, 2025 | Date of grant for 61,592 RSUs under the 2023 Equity Incentive Plan. |
| January 16, 2025 | Date of grant for 1,670 RSUs under the 2023 Equity Incentive Plan. |
| February 20, 2025 | Transaction date: Sale of 204 shares of Class A Common Stock at $0.45. |
| February 21, 2025 | Transaction date: Sale of 476 shares of Class A Common Stock at $0.44. |
| February 24, 2025 | Transaction date: Sale of 548 shares of Class A Common Stock at $0.42. |
Keywords
Form 4, Beneficial Ownership, Class A Common Stock, Jeff Welday, Beneficient, RSU, REU, Equity Incentive Plan, Tax Withholding
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