Form 4: Credo Technology Group Holding Ltd: Chief Technology Officer Reports Tax-Related Share Disposal

Chi Fung Cheng, Chief Technology Officer of Credo Technology Group Holding Ltd, reports the disposal of shares to cover tax obligations related to vesting RSUs.

Summary

• Chi Fung Cheng, the Chief Technology Officer of Credo Technology Group Holding Ltd, filed a Form 4 on April 9, 2024, reporting a transaction that occurred on April 5, 2024.
• The transaction involved the disposal of 1,522 ordinary shares to satisfy tax withholding obligations related to the vesting and settlement of Restricted Stock Units (RSUs).
• The shares were disposed of at a price of $21.36 per share.
• Following the transaction, Cheng directly owns 138,824 ordinary shares.
• Cheng also indirectly owns 9,938,602 ordinary shares through the Cheng Huang Family Trust, where he and his spouse are trustees and beneficiaries; he disclaims beneficial ownership except to the extent of his and his spouse's 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 about 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 when RSUs vest.

Key Dates