Form 4: Data Storage Corp Director Schwartz Exercises Stock Options
SEC Form 4 Filing
Harold J. Schwartz, a director, 10% owner, and President of Data Storage Corp, converted 8,333 restricted stock units into common stock on April 10, 2024.
Summary
- On April 10, 2024, Harold J. Schwartz, a director, 10% owner, and President of Data Storage Corp, converted 8,333 restricted stock units (RSUs) into common stock.
- The transaction was reported on a Form 4 filing with the SEC.
- Following the transaction, Schwartz directly owns 846,176 shares of Data Storage Corp common stock.
- The RSUs converted were part of a grant from April 10, 2023, which vests in three equal annual installments.
Sentiment
Score: 5
Explanation: The document is a neutral regulatory filing detailing an insider transaction. It doesn't inherently convey positive or negative sentiment.
Industry Context
This is a routine disclosure of insider transactions, which are common and expected. It provides transparency into the actions of company insiders.
Stakeholder Impact
- The transaction could have a minor impact on shareholders due to the increase in outstanding shares, but it's unlikely to be significant given the relatively small number of shares involved.
Key Dates
| Date | Description |
|---|---|
| 04/10/2023 | Date of RSU grant to the Reporting Person, vesting over a three-year period. |
| 04/10/2024 | Date of transaction: conversion of 8,333 restricted stock units into common stock. |
| 04/10/2024 | First vesting date of RSU grant. |
| 04/10/2025 | Second vesting date of RSU grant. |
| 04/10/2026 | Third vesting date of RSU grant. |
| 04/12/2024 | Date of signature on the Form 4 filing. |
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