Form 4: Credo Technology Group COO Sells Shares to Cover Tax Obligations

Credo Technology Group's Chief Operating Officer, Lam Yat Tung, sold 3,168 shares to cover tax obligations related to vested RSUs.

Summary

• Lam Yat Tung, the Chief Operating Officer of Credo Technology Group, sold 3,168 ordinary shares on December 1, 2024.
• The sale was executed at a price of $48.96 per share.
• This transaction was to cover tax withholding obligations related to the vesting and settlement of Restricted Stock Units (RSUs).
• Following the transaction, Lam Yat Tung directly owns 2,859,504 ordinary shares.
• He also indirectly owns 1,270,000 shares through Zhan BVI Co Ltd and 600,000 shares through Chung BVI Co Ltd.
• Lam Yat Tung disclaims beneficial ownership of the indirectly held shares except to the extent of any pecuniary interest.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction for tax purposes, with no indication of positive or negative sentiment.

Industry Context

This is a routine transaction for executives who receive stock-based compensation. It is common for executives to sell shares to cover tax obligations when RSUs vest.

Comparison to Industry Standards

• Similar transactions are common among executives at publicly traded technology companies.
• Many companies use RSUs as part of their compensation packages, leading to similar tax-related sales.
• The number of shares sold is relatively small compared to the total holdings of the executive.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a small sale by an executive for tax purposes.

Key Dates

Keywords

Credo Technology Group, CRDO, Lam Yat Tung, share sale, insider trading, Form 4, RSU, tax obligations, beneficial ownership