Form 4: Bio-Key International Executive Receives Stock Grant

James David Sullivan, Chief Legal Officer, SVP Strategy & Compliance at Bio-Key International, reports acquisition of 22,500 shares of common stock via a restricted stock grant.

Summary

• James David Sullivan, Chief Legal Officer, SVP Strategy & Compliance at Bio-Key International, filed a Form 4.
• The filing reports a transaction on July 31, 2024, where Sullivan acquired 22,500 shares of common stock.
• These shares were granted as restricted stock under the Issuer's 2023 Stock Incentive Plan.
• The restricted stock vests in three equal annual installments on the anniversaries of the grant date, contingent upon continued employment.
• Following the reported transaction, Sullivan beneficially owns 44,573 shares of common stock.
• The holdings do not include options to purchase 348 shares and warrants to purchase 12,667 shares.

Sentiment

Score: 5

Explanation: Neutral sentiment as it is a standard disclosure of stock grants.

Positives

• The stock grant aligns the executive's interests with those of the company and its shareholders.
• The vesting schedule incentivizes continued employment and contribution to the company's success.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders.

Stakeholder Impact

• The stock grant may have a minor positive impact on shareholder sentiment by aligning executive interests with company performance.

Key Dates

Keywords

Form 4, BIO-KEY International, Sullivan, Stock Incentive Plan, Restricted Stock, Beneficial Ownership, Securities, BKYI