Form 4: CarParts.com CTO Kals Subramanian Reports RSU Vesting and Tax-Related Share Withholding

CarParts.com's Chief Technology Officer, Kals Subramanian, reported the vesting of 18,750 Restricted Stock Units and the subsequent withholding of 5,382 shares for tax obligations.

Summary

• Kals Subramanian, Chief Technology Officer of CarParts.com, Inc. (PRTS), reported transactions involving company stock.
• On July 16, 2025, 18,750 Restricted Stock Units (RSUs) vested, converting into an equal number of common stock shares.
• These RSUs were part of a grant from January 16, 2024, under the CarParts.com, Inc. 2016 Equity Incentive Plan, with a vesting schedule that included this installment.
• Following the vesting, on July 17, 2025, 5,382 shares of common stock were withheld by CarParts.com to satisfy tax withholding obligations related to the RSU settlement, at a price of $0.81 per share.
• After these transactions, Kals Subramanian beneficially owns 205,869 shares of common stock and 37,500 Restricted Stock Units.

Sentiment

Score: 6

Explanation: The sentiment is neutral to slightly positive. The transaction is routine (RSU vesting and tax withholding) and pre-planned, indicating stability in executive compensation and no unexpected large sales. The executive continues to hold a significant number of shares and RSUs.

Positives

• The vesting of Restricted Stock Units indicates continued retention and alignment of a key executive, Kals Subramanian, with shareholder interests.
• The transaction was made pursuant to a Rule 10b5-1 plan, indicating a pre-planned and orderly transaction rather than an opportunistic sale.

Negatives

• A portion of the vested shares (5,382 shares) was disposed of to cover tax liabilities, which is a common practice but represents a reduction in direct shareholding.

Future Outlook

No forward-looking statements or guidance are provided in this filing.

Industry Context

This is a routine insider transaction report for an individual executive, not directly related to broader industry trends or competitors beyond the general practice of executive equity compensation in publicly traded companies.

Related Party Transactions

• The vesting of Restricted Stock Units and the subsequent share withholding for tax obligations constitute transactions between the company and a related party (Chief Technology Officer).

Stakeholder Impact

• Shareholders: The report provides transparency regarding executive equity holdings and compensation, which can inform investment decisions. The withholding of shares for taxes is a common practice and does not indicate a significant change in executive confidence.
• Employees: The RSU vesting schedule demonstrates the company's ongoing equity incentive plan for key personnel.

Next Steps

• Remaining RSUs are expected to vest in equal installments each quarter through the second anniversary of the grant date (January 16, 2026), subject to continued service.

Key Dates

Keywords

CarParts.com, PRTS, SEC Form 4, Insider Trading, Restricted Stock Units, RSU Vesting, Executive Compensation, Kals Subramanian, Chief Technology Officer, Share Withholding, Equity Incentive Plan