Form 4: Co-Diagnostics CFO Brian Lee Brown Reports Stock Transactions
SEC Form 4
Brian Lee Brown, CFO of Co-Diagnostics, Inc., reports the acquisition and disposition of company stock and restricted stock units to cover tax obligations.
Summary
- On May 23, 2024, Brian Lee Brown, the CFO of Co-Diagnostics, Inc., reported transactions involving the company's stock.
- Brown acquired 113,334 shares of common stock at $0.00.
- Brown disposed of 35,865 shares at $1.09 to cover tax withholding obligations related to vesting restricted stock units (RSUs).
- Following these transactions, Brown directly owns 290,689 shares of Co-Diagnostics common stock.
- Brown also directly owns 515,000 derivative securities in the form of Restricted Stock Units.
Sentiment
Score: 5
Explanation: This is a neutral report on 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.
Comparison to Industry Standards
- Executive compensation packages often include restricted stock units that vest over time.
- Selling shares to cover tax obligations upon vesting is a standard practice.
- The specific number of shares and vesting schedules are company-specific and depend on the executive's role and performance.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders, as they are related to executive compensation and tax obligations.
Key Dates
| Date | Description |
|---|---|
| 08/12/2021 | 100,000 restricted stock units awarded to the Reporting Person, vesting in 6 equal installments every 6 months commencing on November 23, 2021. |
| 11/23/2021 | Commencement date for vesting of restricted stock units awarded on August 12, 2021. |
| 06/06/2022 | 225,000 restricted stock units awarded to the Reporting Person, vesting in 6 equal installments every 6 months commencing on November 23, 2022. |
| 11/23/2022 | Commencement date for vesting of restricted stock units awarded on June 6, 2022. |
| 01/17/2023 | 130,000 restricted stock units awarded to the Reporting Person, vesting in 6 equal installments every 6 months commencing on May 23, 2023. |
| 05/23/2023 | Commencement date for vesting of restricted stock units awarded on January 17, 2023. |
| 05/15/2023 | 225,000 restricted stock units awarded to the Reporting Person, vesting in 6 equal installments every 6 months commencing on November 23, 2023. |
| 11/23/2023 | Commencement date for vesting of restricted stock units awarded on May 15, 2023. |
| 05/23/2024 | Date of reported stock transactions: acquisition of 113,334 shares and disposition of 35,865 shares. |
| 05/28/2024 | Date of signature for the Form 4 filing. |
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