Form 4: Clearfield CEO Cheryl Beranek Sells Shares to Cover Tax Obligations

Clearfield CEO Cheryl Beranek sold a total of 3,139 shares of common stock to cover tax obligations related to the vesting of restricted stock.

Summary

• Cheryl Beranek, CEO of Clearfield, Inc., sold 3,139 shares of common stock on November 16, 2024.
• The sales were executed to cover tax obligations arising from the vesting of restricted stock.
• The shares were sold at a price of $28.26 per share.
• The transactions involved the vesting of restricted stock granted on November 16, 2021, February 24, 2023, and November 16, 2023.
• Following these transactions, Ms. Beranek beneficially owns 451,673 shares of Clearfield common stock.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction for tax purposes, not indicative of positive or negative sentiment.

Industry Context

This is a routine transaction for executives who receive stock-based compensation. It is common for executives to sell shares to cover tax liabilities when restricted stock vests.

Comparison to Industry Standards

• Executive stock sales to cover tax obligations are a common practice across various industries.
• Many companies use restricted stock units (RSUs) as part of executive compensation packages, which often trigger tax liabilities upon vesting.
• The number of shares sold and the price are specific to Clearfield and its executive compensation plan, but the practice is not unique.

Stakeholder Impact

• The stock sale has a minor impact on the total number of shares outstanding.
• The transaction is not expected to have a significant impact on the company's operations or financial performance.

Key Dates

Keywords

Clearfield, Cheryl Beranek, stock sale, insider trading, restricted stock, tax obligations, executive compensation