Form 4: CommScope Executive Choi Justin C Reports Stock Disposal for Tax Obligations
SEC Form 4 Filing
SVP, Chief Legal Officer & Secretary of CommScope Holding Company, Inc., Justin C Choi, disposed of 5,167 shares of common stock on May 3, 2024, to cover tax obligations related to vesting restricted stock units.
Summary
- On May 3, 2024, Justin C Choi, SVP, Chief Legal Officer & Secretary of CommScope Holding Company, Inc., disposed of 5,167 shares of common stock.
- The disposal was to cover taxes incurred upon the vesting of restricted stock units.
- Following the transaction, Choi directly owns 481,146 shares of CommScope Holding Company, Inc.
- These holdings include restricted stock units that will vest ratably on various dates in June 2024, June 2025, June 2026 and June 2027, subject to continued employment.
Sentiment
Score: 5
Explanation: This is a neutral event. It's a routine transaction related to executive compensation and tax obligations.
Future Outlook
The reporting person's future holdings are subject to continued employment with the issuer and the vesting schedules of the restricted stock units.
Industry Context
This is a routine Form 4 filing, reflecting insider transactions related to equity compensation. It's common for executives to sell shares to cover tax obligations when restricted stock units vest.
Stakeholder Impact
- The transaction has a minimal impact on stakeholders as it is a routine sale of shares to cover tax obligations.
Key Dates
| Date | Description |
|---|---|
| 03/01/2022 | Date of grant for 34,734 restricted stock units vesting ratably on 06/01/2024 and 06/01/2025. |
| 03/01/2023 | Date of grant for 80,300 restricted stock units vesting ratably on 06/01/2024, 06/01/2025 and 06/01/2026. |
| 06/01/2023 | Date of grant for 90,500 restricted stock units vesting ratably on 06/01/2024, 06/01/2025 and 06/01/2026. |
| 03/01/2024 | Date of grant for 125,400 restricted stock units vesting ratably on 06/01/2025, 06/01/2026 and 06/01/2027. |
| 05/03/2024 | Date of transaction: Disposal of 5,167 shares to cover taxes. |
| 05/07/2024 | Date of signature on the Form 4 filing. |
| 06/01/2024 | Vesting date for portions of restricted stock units granted in 2022 and 2023. |
| 06/01/2025 | Vesting date for portions of restricted stock units granted in 2022, 2023 and 2024. |
| 06/01/2026 | Vesting date for portions of restricted stock units granted in 2023 and 2024. |
| 06/01/2027 | Vesting date for portions of restricted stock units granted in 2024. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.