Form 4: Data Storage Corp Director Schwartz Exercises Stock Options
SEC Form 4
Harold J. Schwartz, a director and officer of Data Storage Corp, converted restricted stock units into 4,902 shares of common stock on February 29, 2024.
Summary
- On February 29, 2024, Harold J. Schwartz, a director, 10% owner, and President of Data Storage Corp, converted 4,902 restricted stock units (RSUs) into common stock.
- This transaction was executed under a pre-arranged plan satisfying Rule 10b5-1(c).
- Following the transaction, Schwartz directly owns 837,843 shares of Data Storage Corp common stock.
- The RSUs converted were part of a grant from March 1, 2023, vesting in three equal annual installments.
Sentiment
Score: 5
Explanation: This is a neutral event. It's a standard insider transaction related to stock options vesting.
Future Outlook
The remaining RSUs will vest in equal installments on February 28, 2025, and February 28, 2026, subject to continued service.
Industry Context
This Form 4 filing is a routine disclosure of insider transactions, providing transparency to investors regarding the actions of company executives and directors. It's common for executives to receive stock options or restricted stock units as part of their compensation, which vest over time.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it's a routine conversion of existing equity awards.
Key Dates
| Date | Description |
|---|---|
| 03/01/2023 | Date of the restricted stock unit (RSU) grant to the Reporting Person. |
| 02/29/2024 | Date of the transaction where RSUs converted into common stock. |
| 02/28/2025 | Next vesting date for the restricted stock units. |
| 02/28/2026 | Final vesting date for the restricted stock units. |
| 03/05/2024 | Date of the Form 4 filing. |
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