Form 4: Credo Technology CTO Discloses Routine Share Disposition for Tax Obligations

Credo Technology Group Holding Ltd's Chief Technology Officer, Cheng Chi Fung, reported a disposition of 2,460 ordinary shares valued at $60.96 per share to cover tax withholding obligations related to RSU vesting.

Summary

• Cheng Chi Fung, Chief Technology Officer and Director of Credo Technology Group Holding Ltd (CRDO), filed a Form 4.
• The filing reports a transaction on June 1, 2025, involving the disposition of 2,460 ordinary shares.
• These shares were disposed of at a price of $60.96 per share.
• The disposition was made to the Issuer (Credo Technology Group Holding Ltd) to satisfy tax withholding obligations associated with the vesting and settlement of Restricted Stock Units (RSUs).
• Following this transaction, Mr. Fung directly beneficially owns 119,350 ordinary shares.
• Additionally, Mr. Fung indirectly beneficially owns 7,663,602 ordinary shares through the Cheng Huang Family Trust, where he and his spouse are trustees and beneficiaries.

Sentiment

Score: 5

Explanation: The filing reports a routine, non-discretionary transaction (shares withheld for tax obligations) which is neutral in sentiment and does not indicate any significant positive or negative developments for the company or its stock.

Future Outlook

NA

Industry Context

This Form 4 filing is a routine disclosure of an insider transaction, specifically a non-discretionary sale of shares to cover tax obligations upon RSU vesting. Such transactions are common across all industries for executives receiving equity compensation and do not typically reflect a change in management's outlook on the company's prospects.

Related Party Transactions

• The indirect beneficial ownership of 7,663,602 ordinary shares is held by the Cheng Huang Family Trust, of which the Reporting Person and his spouse are trustees and beneficiaries. This represents a related party holding, though the reported transaction itself is with the Issuer for tax purposes.

Stakeholder Impact

• Shareholders: The transaction is a routine tax-related disposition and is unlikely to have a material impact on the company's stock price or shareholder value.
• Employees: The RSU vesting and associated tax withholding are standard practices for equity compensation, which can be a positive for employee retention and motivation.

Key Dates

Keywords

Credo Technology Group Holding Ltd, CRDO, Form 4, SEC filing, insider trading, share disposition, tax withholding, RSU vesting, Cheng Chi Fung, Chief Technology Officer, beneficial ownership