Form 4: Crown Crafts CFO Craig Demarest Reports Tax Withholding Transaction
SEC Form 4 Filing
Craig Demarest, CFO of Crown Crafts Inc, reports the surrender of 4,172 shares to cover tax obligations upon vesting of previously awarded shares.
Summary
- On August 14, 2024, Craig Demarest, the CFO of Crown Crafts Inc, reported a transaction involving the surrender of company stock to cover tax obligations.
- Demarest surrendered 4,172 shares of common stock to the issuer.
- This was to satisfy tax withholding obligations incurred upon the vesting of 11,000 shares of common stock originally awarded on August 14, 2023.
- Following the transaction, Demarest beneficially owns 53,563 shares of Crown Crafts Inc.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing, indicating a neutral sentiment.
Industry Context
Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a standard tax withholding procedure.
Key Dates
| Date | Description |
|---|---|
| 08/14/2023 | Date of original award of 11,000 shares of common stock to Craig Demarest. |
| 08/14/2024 | Date of transaction: surrender of 4,172 shares for tax withholding. |
| 08/16/2024 | Date of signature on the Form 4 filing. |
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