Form 4: Big 5 Sporting Goods Executive Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Frank Pasillas, Senior VP of Store Operations at Big 5 Sporting Goods, disposed of shares to cover tax withholding obligations related to vesting restricted stock.
Summary
- On March 14, 2024, Frank Pasillas, Senior VP of Store Operations at Big 5 Sporting Goods, disposed of 1,046 shares of common stock at a price of $3.58 per share.
- The transaction was executed to cover tax withholding obligations related to the vesting of restricted stock previously granted to Pasillas.
- Following the transaction, Pasillas directly owns 15,162 shares of Big 5 Sporting Goods common stock.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing related to an insider stock transaction for tax purposes, indicating a neutral sentiment.
Industry Context
Form 4 filings are a routine part of the financial markets, providing transparency into the transactions of company insiders. This particular filing indicates a common practice of executives selling shares to cover tax obligations related to stock awards.
Stakeholder Impact
- The transaction is unlikely to have a significant impact on stakeholders as it is a routine sale of shares to cover tax obligations.
Key Dates
| Date | Description |
|---|---|
| 03/14/2024 | Date of transaction: Frank Pasillas disposed of shares. |
| 03/15/2024 | Deemed execution date of the transaction. |
| 03/19/2024 | Date of signature on the Form 4 filing. |
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