Form 4: Credo Technology Group COO Lam Yat Tung Reports Share Disposal for Tax Obligations
SEC Form 4 Filing
Chief Operating Officer of Credo Technology Group, Lam Yat Tung, reports the disposal of shares to cover tax withholding obligations related to RSU vesting.
Summary
- On April 5, 2024, Lam Yat Tung, the Chief Operating Officer of Credo Technology Group Holding Ltd, disposed of 2,230 ordinary shares to satisfy tax withholding obligations.
- The shares were disposed of at a price of $21.36 per share.
- Following the transaction, Lam Yat Tung directly owns 3,163,738 ordinary shares.
- Lam Yat Tung also indirectly owns 798,127 ordinary shares through Chung BVI Co Ltd and 1,270,000 ordinary shares through Zhan BVI Co Ltd, but disclaims beneficial ownership except to the extent of any pecuniary interest.
Sentiment
Score: 5
Explanation: This is a neutral event related to standard executive compensation practices. It doesn't indicate a positive or negative outlook for the company.
Industry Context
This is a routine disclosure related to executive compensation and tax obligations. It's common for executives to sell shares to cover taxes when restricted stock units (RSUs) vest.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a routine disposal of shares for tax purposes.
Key Dates
| Date | Description |
|---|---|
| 04/05/2024 | Date of share disposal transaction. |
| 04/09/2024 | Date of signature on the Form 4 filing. |
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