Form 4: CBIZ Inc. Executive Chris Spurio Reports Stock Transactions
SEC Form 4 Filing
Chris Spurio, President of Financial Services at CBIZ Inc., reports the vesting of restricted stock units and subsequent tax withholding.
Summary
- On February 8, 2025, Chris Spurio, President of Financial Services at CBIZ Inc., reported the vesting of 3,724 restricted stock units which converted into common stock on a one-for-one basis.
- Following the vesting, 1,671 shares were withheld for taxes at a price of $88 per share.
- On February 9, 2025, an additional 1,401 shares were withheld for taxes at $88 per share related to restricted stock units granted on February 9, 2024.
- After these transactions, Spurio directly owns 217,701.9524 shares of CBIZ Inc. common stock.
Sentiment
Score: 5
Explanation: This is a neutral report on stock transactions, reflecting standard executive compensation practices.
Industry Context
This Form 4 filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It provides transparency regarding insider transactions to investors.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies, ensuring transparency in insider trading.
- Executive compensation packages often include restricted stock units that vest over time, aligning executive interests with shareholder value.
- Tax withholding upon vesting of restricted stock units is a common occurrence.
Stakeholder Impact
- The filing provides transparency to shareholders regarding executive stock ownership.
- The transactions have a minor impact on the overall shareholding structure of the company.
Key Dates
| Date | Description |
|---|---|
| 02/08/2023 | Reporting person was granted 11,174 restricted stock units, vesting in three equal annual installments beginning on the first anniversary of the grant date. |
| 02/09/2024 | Date of previously reported restricted stock units grant. |
| 02/08/2025 | Vesting of 3,724 restricted stock units and tax withholding of 1,671 shares. |
| 02/09/2025 | Tax withholding of 1,401 shares related to previously granted restricted stock units. |
| 02/11/2025 | Date of signature for the Form 4 filing. |
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