Form 4: Credo Technology Group COO Lam Yat Tung Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Credo Technology Group's Chief Operating Officer, Lam Yat Tung, disposed of shares to cover tax withholding obligations related to the vesting of Restricted Stock Units (RSUs).
Summary
- On October 4, 2024, Lam Yat Tung, the Chief Operating Officer of Credo Technology Group Holding Ltd, disposed of 3,168 ordinary shares to satisfy tax withholding obligations related to the vesting and settlement of RSUs.
- The shares were sold at a price of $32.57 per share.
- Following the transaction, Lam Yat Tung directly owns 2,882,672 ordinary shares.
- Lam Yat Tung also indirectly owns 720,000 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 positive or negative sentiment towards the company's performance.
Industry Context
This is a routine transaction related to executive compensation and tax obligations. It is common for executives to sell shares to cover taxes associated with vesting equity awards.
Key Dates
| Date | Description |
|---|---|
| 10/04/2024 | Date of share disposal to cover tax withholding obligations. |
| 10/08/2024 | Date of signature for the Form 4 filing. |
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