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 July 5, 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 $31.63 per share.
- Following the transaction, Lam Yat Tung directly owns 3,127,777 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: 6
Explanation: The document reflects a routine transaction (sale of shares for tax obligations) by an executive, which is neither particularly positive nor negative. It's a neutral event in the context of investment analysis.
Industry Context
Sales of shares to cover tax obligations upon vesting of RSUs are a common practice among corporate executives and are not necessarily indicative of the executive's sentiment towards the company's future prospects.
Key Dates
| Date | Description |
|---|---|
| 07/05/2024 | Date of the transaction where shares were disposed of to cover tax obligations. |
| 07/09/2024 | Date of signature for the Form 4 filing. |
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