Form 4: Cross Country Healthcare Executive Karen Mote Reports Stock Transactions
SEC Form 4 Filing
Karen Mote, President of Cross Country Locums, reports acquisition and disposal of company stock related to vesting of restricted shares and tax obligations.
Summary
- On March 31, 2024, Karen Mote, President of Cross Country Locums, reported transactions involving Cross Country Healthcare Inc. (CCRN) common stock.
- Mote acquired 3,473 shares of common stock through vesting of restricted shares at a price of $0.
- Simultaneously, Mote disposed of shares to cover tax withholding obligations related to the vesting of restricted stock.
- A total of 3,587 shares were disposed of to cover these tax obligations at a price of $18.72 per share (1,728 + 970 + 451 + 438 = 3,587).
- Following these transactions, Mote directly owns 38,525 shares of Cross Country Healthcare Inc. common stock.
Sentiment
Score: 6
Explanation: The sentiment is neutral. The filing reflects routine transactions related to executive compensation and tax obligations, with no clear positive or negative implications for the company's outlook.
Positives
- The vesting of restricted shares indicates a continued investment in the company by a key executive.
Negatives
- The disposal of shares to cover tax obligations, while standard, slightly reduces the executive's holdings.
Future Outlook
The remaining restricted shares will vest in three substantially equal installments on March 31, 2025, March 31, 2026 and March 31, 2027.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. These filings are closely watched by investors seeking insights into management's perspective on the company's stock.
Comparison to Industry Standards
- Monitoring insider transactions is a standard practice across publicly traded companies.
- Similar filings can be observed for executives at competitors like AMN Healthcare and HCA Healthcare, providing a benchmark for understanding executive compensation and stock ownership trends within the healthcare staffing industry.
Stakeholder Impact
- Shareholders may be interested in tracking insider transactions as an indicator of management's confidence in the company.
- The transactions have a minimal direct impact on employees, customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| 03/31/2024 | Date of stock transactions (acquisition and disposal). |
| 03/31/2025 | First vesting date of restricted shares. |
| 03/31/2026 | Second vesting date of restricted shares. |
| 03/31/2027 | Third vesting date of restricted shares. |
| 04/02/2024 | Date of signature on the Form 4 filing. |
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