Form 4: CarParts.com Executive Kals Subramanian Reports Stock Transactions
SEC Form 4 Filing
Chief Technology Officer Kals Subramanian reports the vesting of restricted stock units and subsequent tax withholding.
Summary
- On April 18, 2024, Kals Subramanian, Chief Technology Officer of CarParts.com, Inc., reported the vesting of 16,786 Restricted Stock Units (RSUs).
- These RSUs were granted on April 18, 2022, under the company's 2016 Equity Incentive Plan and vested in tranches.
- Following the vesting, 4,860 shares were withheld by the company on April 19, 2024, at a price of $1.29 per share to cover tax obligations.
- After these transactions, Subramanian directly owns 57,134 shares of CarParts.com, Inc.
Sentiment
Score: 5
Explanation: This is a neutral reporting of stock transactions related to executive compensation. It doesn't inherently indicate positive or negative sentiment.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It provides transparency into the transactions of company insiders.
Stakeholder Impact
- The transaction has a minor dilutive effect on existing shareholders due to the issuance of new shares upon RSU vesting.
- The tax withholding ensures compliance with tax regulations.
Key Dates
| Date | Description |
|---|---|
| 04/18/2022 | Date the Restricted Stock Units (RSU) were granted to the Reporting Person under the CarParts.com, Inc. 2016 Equity Incentive Plan. |
| 04/18/2024 | Date of RSU vesting. |
| 04/19/2024 | Date shares were withheld by the Company to satisfy tax withholding obligations. |
| 04/22/2024 | Date of the Form 4 filing. |
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