Form 4: Clearfield CFO Daniel Herzog Disposes of Shares to Cover Tax Obligations

Clearfield's Chief Financial Officer, Daniel Herzog, disposed of company shares to cover tax obligations related to vesting restricted stock.

Summary

• Daniel Herzog, the Chief Financial Officer of Clearfield, Inc., disposed of a total of 1,597 shares of common stock on November 16, 2024.
• These transactions were made to cover tax obligations arising from the vesting of restricted stock.
• The shares were disposed of at a price of $28.26 per share.
• The disposals were related to three separate vesting events of restricted stock granted on November 16, 2021, February 24, 2023, and November 16, 2023.
• Following these transactions, Mr. Herzog beneficially owns 52,074 shares of Clearfield common stock.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction related to executive compensation and does not indicate any 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 obligations when restricted stock vests.

Comparison to Industry Standards

• Similar stock disposals are common among executives at publicly traded companies, particularly when dealing with restricted stock units.
• The practice of selling shares to cover tax liabilities is a standard part of executive compensation packages across various industries.
• Companies like Corning, CommScope, and Adtran, which operate in similar sectors, often see similar transactions from their executives.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine sale of shares by an executive to cover tax obligations.

Key Dates

Keywords

Clearfield, Daniel Herzog, CFO, stock disposal, restricted stock, tax obligations, share vesting, insider trading