4/A: Data Storage Corp CEO Amends Ownership Filing

Data Storage Corp's Chairman and CEO, Charles M. Piluso, amended his SEC Form 4 to disclose RSU vesting and related tax-driven stock sales.

Summary

• Charles M. Piluso, Chairman and CEO of Data Storage Corp, filed an amendment (Form 4/A) to his Statement of Changes in Beneficial Ownership.
• The amendment clarifies the vesting of 9,416 Restricted Stock Units (RSUs) on March 28, 2025, which was inadvertently omitted from the original Form 4 filed on April 1, 2025.
• This RSU vesting resulted in the sale of 3,390 shares of common stock at a weighted average price of $3.55 per share (ranging from $3.50 to $3.65) to satisfy tax withholding obligations.
• Following these transactions, Piluso directly beneficially owns 392,243 shares of common stock and 9,417 Restricted Stock Units.
• He also holds indirect beneficial ownership through Piluso Family Associates (16,667 shares), Piluso Family Associates LLC (65,083 shares), The Lasata 2012 Trust (230,116 shares), and The Bella Vita 2012 Trust (230,116 shares).
• The RSUs were granted on March 28, 2023, and are scheduled to vest in equal installments on March 28, 2024, March 28, 2025, and March 28, 2026.

Sentiment

Score: 5

Explanation: The filing is a routine amendment to disclose RSU vesting and a subsequent tax-related stock sale by an insider. While a sale reduces direct ownership, it's for tax purposes and balanced by the RSU vesting, making the overall sentiment neutral.

Positives

• Vesting of 9,416 Restricted Stock Units (RSUs) indicates ongoing compensation and alignment of management interests with shareholders.

Negatives

• Sale of 3,390 shares of common stock, even for tax withholding, reduces direct beneficial ownership by the Chairman and CEO.

Future Outlook

The remaining Restricted Stock Units are scheduled to vest in equal installments, with the next vesting date on March 28, 2026.

Industry Context

This filing is a routine disclosure of insider transactions, common across all publicly traded companies, and does not provide specific insights into broader industry trends for Data Storage Corp.

Comparison to Industry Standards

• This filing is a standard regulatory disclosure of insider trading activity and beneficial ownership, not a performance report that can be compared to industry benchmarks or competitor results.

Related Party Transactions

• The filing details indirect beneficial ownership through entities where the reporting person and/or their spouse are involved, including Piluso Family Associates, Piluso Family Associates LLC, The Lasata 2012 Trust, and The Bella Vita 2012 Trust. These disclosures clarify ownership structures rather than new transactional dealings.

Stakeholder Impact

• Shareholders: Provides transparency regarding insider ownership changes, specifically the vesting of RSUs and subsequent tax-related stock sales by the Chairman and CEO.

Next Steps

• The next installment of Restricted Stock Units (RSUs) is scheduled to vest on March 28, 2026.

Key Dates

Keywords

Data Storage Corp, DTST, SEC Form 4/A, Insider Trading, Beneficial Ownership, Restricted Stock Units, RSU Vesting, Charles M. Piluso, Chairman, CEO