Form 4: Beneficient Officer Jeff Welday Sells Shares to Cover Tax Obligations
SEC Form 4
Jeff Welday, a Global Head of Organizations and Distribution at Beneficient, sold shares of Class A Common Stock to cover tax withholding obligations related to the vesting of restricted stock units.
Summary
- Jeff Welday, an officer at Beneficient, filed a Form 4 detailing the sale of Class A Common Stock.
- The sales were executed on February 14, 2025, February 18, 2025, and February 19, 2025.
- These transactions were to cover tax withholding obligations related to the vesting and settlement of restricted stock units (RSUs).
- Welday sold 272 shares at $0.55 on February 14, 2025, 1,191 shares at $0.47 on February 18, 2025, and 272 shares at $0.47 on February 19, 2025.
- Following these transactions, Welday beneficially owns 143,495 shares of Class A Common Stock.
- This total 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 purposes, indicating a neutral sentiment.
Industry Context
Form 4 filings are a routine part of the US 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, but is likely insignificant given the reason for the sale.
Key Dates
| Date | Description |
|---|---|
| 2020-01-01 | Grant date of 140,490 REUs under the 2018 Equity Incentive Plan, vesting 20% immediately and the remaining 80% in four equal annual installments on June 3rd of each subsequent calendar year. |
| 2022-04-01 | 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. |
| 2023-07-15 | 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. |
| 2023-07-15 | Grant date of 20,560 RSUs under the 2023 Equity Incentive Plan, fully vested on September 1, 2023. |
| 2024-08-22 | Grant date of 98,919 RSUs under the 2023 Equity Incentive Plan, fully vested on the date of grant. |
| 2024-08-22 | Grant date of 998 RSUs under the 2023 Equity Incentive Plan, fully vested on the date of grant. |
| 2024-10-17 | Grant date of 58,249 RSUs under the 2023 Equity Incentive Plan, fully vested on the date of grant. |
| 2025-01-14 | Grant date of 61,592 RSUs under the 2023 Equity Incentive Plan, fully vested on the date of grant. |
| 2025-01-16 | Grant date of 1,670 RSUs under the 2023 Equity Incentive Plan, fully vested on the date of grant. |
| 2025-02-14 | Sale of 272 shares of Class A Common Stock at $0.55. |
| 2025-02-18 | Sale of 1,191 shares of Class A Common Stock at $0.47. |
| 2025-02-19 | Sale of 272 shares of Class A Common Stock at $0.47. |
Keywords
Form 4, Beneficient, Jeff Welday, Class A Common Stock, Restricted Stock Units, RSUs, Equity Incentive Plan, Share Sale, Tax Withholding
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