Form 4: Credo Technology Group COO Lam Yat Tung Reports Share Disposals for Tax Obligations
SEC Form 4 Filing
Credo Technology Group's Chief Operating Officer, Lam Yat Tung, disposed of shares to cover tax obligations related to vesting RSUs.
Summary
- Lam Yat Tung, the Chief Operating Officer of Credo Technology Group, reported the disposal of company shares.
- The disposals were made on January 2, 2025, and January 5, 2025, to cover tax withholding obligations related to the vesting of Restricted Stock Units (RSUs).
- On January 2, 2025, 10,709 shares were disposed of at a price of $70.93 per share.
- On January 5, 2025, 3,174 shares were disposed of at a price of $72.39 per share.
- Following these transactions, Lam Yat Tung directly owns 2,835,621 ordinary shares.
- Additionally, Lam Yat Tung indirectly owns 300,000 shares through Chung BVI Co Ltd and 1,270,000 shares through Zhan BVI Co Ltd, but disclaims beneficial ownership except for any pecuniary interest.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing related to insider transactions. It does not indicate any positive or negative sentiment about the company's performance or future prospects.
Industry Context
This is a routine filing related to insider transactions, specifically the disposal of shares to cover tax obligations. It is common for executives to sell shares after vesting of equity awards.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies in the US, and this filing is consistent with those requirements.
- The share disposals are related to tax obligations, which is a common reason for insider sales.
- The prices at which the shares were sold are consistent with the market price at the time of the transactions.
Stakeholder Impact
- The share disposals by the COO may have a minor impact on the stock price, but are not expected to be significant as they are related to tax obligations.
Key Dates
| Date | Description |
|---|---|
| 01/02/2025 | Disposal of 10,709 shares at $70.93 per share. |
| 01/05/2025 | Disposal of 3,174 shares at $72.39 per share. |
| 01/06/2025 | Date of signature for the Form 4 filing. |
Keywords
share disposal, insider trading, Form 4, RSU, tax obligations, Credo Technology Group, CRDO, Lam Yat Tung
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