Form 4: California Water Service Group Executive Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Shannon C. Dean, a Senior VP at California Water Service Group, sold 229 shares of common stock on March 7, 2024, to cover tax obligations related to vesting restricted stock.
Summary
- On March 7, 2024, Shannon C. Dean, a Senior VP at California Water Service Group, disposed of 229 shares of common stock.
- The transaction was executed to cover tax withholding obligations related to the vesting of restricted stock.
- The shares were sold at a price of $46.24 per share.
- Following the transaction, Dean directly owns 20,649.76 shares of California Water Service Group common stock.
Sentiment
Score: 5
Explanation: This is a neutral event. An executive selling shares to cover taxes is a normal occurrence.
Industry Context
Form 4 filings are a routine part of the stock market, providing transparency into the transactions of company insiders. This particular filing reflects a common practice of executives selling shares to cover tax obligations arising from the vesting of stock awards.
Stakeholder Impact
- The sale of shares by an executive could have a minor, temporary impact on the stock price, but is unlikely to have a significant long-term effect on shareholders.
Key Dates
| Date | Description |
|---|---|
| 03/07/2024 | Date of transaction: Shannon C. Dean disposed of 229 shares of common stock to cover tax obligations. |
| 03/11/2024 | Date of signature on the Form 4 filing. |
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