Form 4: Credo Technology Group CEO William Brennan Reports Routine Share Transactions
Insider Transaction Report
Credo Technology Group Holding Ltd's President and CEO, William Joseph Brennan, reported the withholding of 6,149 ordinary shares for tax obligations and the acquisition of 801 shares through an employee stock purchase plan.
Summary
- William Joseph Brennan, President and Chief Executive Officer of Credo Technology Group Holding Ltd, reported transactions involving the company's ordinary shares.
- On July 2, 2025, 6,149 ordinary shares were withheld by the Issuer at a price of $89.37 per share to satisfy tax withholding obligations related to the vesting and settlement of Restricted Stock Units (RSUs).
- Following this transaction, William Joseph Brennan directly beneficially owns 445,931 ordinary shares.
- This direct ownership figure includes the acquisition of 801 shares of the Issuer's common stock on June 30, 2025, through the company's employee stock purchase plan (ESPP) for the purchase period of January 1, 2025, through July 1, 2025.
- These ESPP shares were purchased based on 85% of the grant date fair market value on July 1, 2024.
- Additionally, 2,211,978 ordinary shares are indirectly beneficially owned through The Brennan Family Trust, DTD 09/06/2002, though the reporting person disclaims beneficial ownership except to the extent of his pecuniary interest.
Sentiment
Score: 5
Explanation: The document is a routine Form 4 filing detailing expected insider transactions (tax withholding and ESPP purchase). It contains no unexpected positive or negative news, reflecting a neutral sentiment.
Positives
- Acquisition of 801 shares through the employee stock purchase plan, indicating continued participation in company equity programs.
Negatives
- 6,149 shares were withheld to cover tax obligations, which reduces the number of shares directly held by the executive.
Future Outlook
NA
Industry Context
NA
Related Party Transactions
- The Brennan Family Trust, DTD 09/06/2002, holds 2,211,978 ordinary shares indirectly beneficially owned by the reporting person, who disclaims beneficial ownership except to the extent of his pecuniary interest.
Stakeholder Impact
- Shareholders: Provides transparency regarding executive stock ownership and routine transactions, which is generally positive for corporate governance.
- Employees: The mention of the Employee Stock Purchase Plan (ESPP) highlights a benefit program available to employees.
Key Dates
| Date | Description |
|---|---|
| 09/06/2002 | Date of The Brennan Family Trust. |
| 07/01/2024 | Grant date fair market value reference for ESPP share purchase. |
| 01/01/2025 | Start of the employee stock purchase plan period. |
| 06/30/2025 | Date of acquisition of 801 shares via employee stock purchase plan. |
| 07/01/2025 | End of the employee stock purchase plan period. |
| 07/02/2025 | Date of earliest transaction, specifically the withholding of shares for tax obligations. |
| 07/03/2025 | Signature date of the Form 4 filing. |
Keywords
Credo Technology Group Holding Ltd, CRDO, SEC Form 4, Insider Trading, Stock Transaction, William Joseph Brennan, Employee Stock Purchase Plan, Restricted Stock Units, Tax Withholding, Corporate Officer, Director
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