Form 4: Data Storage Corp Executive Thomas Kempster Disposes of Shares to Cover RSU Vesting
SEC Form 4
Executive Vice President Thomas Kempster disposed of 4,902 shares of Data Storage Corp common stock on February 29, 2024, to cover the vesting of restricted stock units.
Summary
- On February 29, 2024, Thomas Kempster, an Executive Vice President at Data Storage Corp, disposed of 4,902 shares of common stock.
- This transaction was related to the vesting of restricted stock units (RSUs).
- The RSUs convert into common stock on a one-for-one basis.
- These RSUs were granted on March 1, 2023, and vest in three equal annual installments starting on February 29, 2024, and continuing on February 28, 2025, and February 28, 2026, contingent upon continued service.
- Following the transaction, Kempster directly owns 820,343 shares of Data Storage Corp common stock and 9,804 restricted stock units.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing related to executive compensation. It doesn't inherently convey positive or negative sentiment.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates the vesting of previously granted equity compensation.
Stakeholder Impact
- The transaction has a minimal direct impact on stakeholders, as it is a routine part of executive compensation.
Key Dates
| Date | Description |
|---|---|
| 03/01/2023 | Date of RSU grant to Thomas Kempster |
| 02/29/2024 | Date of transaction (disposal of shares) and first RSU vesting date |
| 02/28/2025 | Second RSU vesting date |
| 02/28/2026 | Third RSU vesting date |
| 03/05/2024 | Date of Form 4 filing |
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