Form 4: Cinemark CEO Sean Gamble Reports Stock Disposals to Cover Tax Obligations
SEC Form 4 Filing
Cinemark's CEO, Sean Gamble, reported the disposal of company stock to cover tax liabilities related to the vesting of restricted stock.
Summary
- Sean Gamble, CEO of Cinemark Holdings, Inc., filed a Form 4 detailing changes in beneficial ownership.
- The report indicates the disposal of common stock on February 19, 2025, and February 20, 2025, to cover tax liabilities associated with the vesting of restricted stock.
- On February 19, 2025, 5,609 shares were disposed of at a price of $33.06 per share related to restricted stock granted on February 19, 2021.
- An additional 11,125 shares were disposed of on February 19, 2025, at $33.06 per share related to restricted stock with 4 year cliff vest granted on February 19, 2021.
- On February 20, 2025, 24,254 shares were disposed of at $28.57 per share related to restricted stock granted on February 20, 2023.
- Also on February 20, 2025, 18,679 shares were disposed of at $28.57 per share related to restricted stock granted on February 20, 2024.
- Following these transactions, Gamble directly owns 595,437 shares of Cinemark common stock.
- The disposals were executed to satisfy tax obligations arising from the vesting of restricted stock awards.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing stock disposals for tax purposes. It doesn't convey strong positive or negative sentiment.
Industry Context
Executive stock transactions are common and often related to compensation and tax planning. The disposals are not necessarily indicative of the executive's view of the company's future prospects.
Stakeholder Impact
- The stock disposals could have a minor, temporary impact on the stock price due to increased selling pressure.
Key Dates
| Date | Description |
|---|---|
| 02/19/2021 | Date of original restricted stock grant related to some of the disposed shares. |
| 02/20/2023 | Date of original restricted stock grant related to some of the disposed shares. |
| 02/20/2024 | Date of original restricted stock grant related to some of the disposed shares. |
| 02/19/2025 | Date of stock disposal to cover tax liability. |
| 02/20/2025 | Date of stock disposal to cover tax liability. |
| 02/21/2025 | Date of Form 4 filing. |
Keywords
Cinemark, Sean Gamble, stock disposal, Form 4, restricted stock, tax liability, beneficial ownership
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