Form 4: Dorian LPG CFO Theodore Young Reports Stock Award Vesting and Tax Withholding
SEC Form 4 Filing
Chief Financial Officer Theodore B. Young of Dorian LPG LTD. reports the vesting of restricted stock and the subsequent withholding of shares to cover tax obligations.
Summary
- On August 5, 2024, Theodore B. Young, CFO of Dorian LPG LTD., acquired 33,000 common shares through a restricted stock award.
- These shares vest ratably in three equal installments starting August 5, 2024.
- On the same day, 4,514 shares were withheld by the issuer to cover tax obligations related to the vesting of 11,000 shares from the August 2024 Restricted Stock Award.
- Additionally, 4,514 shares were reacquired by the issuer to satisfy tax obligations from the vesting of 11,000 shares granted on August 5, 2023.
- Another 4,513 shares were reacquired to cover tax obligations from the vesting of 11,000 shares granted on August 5, 2022.
- Following these transactions, Young directly owns 108,179 common shares.
Sentiment
Score: 5
Explanation: This is a neutral disclosure of stock transactions related to executive compensation. It doesn't inherently indicate positive or negative sentiment about the company's performance.
Positives
- The vesting of restricted stock indicates confidence in the company's future performance.
Industry Context
This filing is a routine disclosure related to executive compensation and is typical for publicly traded companies.
Stakeholder Impact
- The transaction has a minor impact on shareholders as it relates to executive compensation and share dilution.
Key Dates
| Date | Description |
|---|---|
| 08/05/2022 | Date of grant for 11,000 restricted shares, a portion of which vested on 08/05/2024. |
| 08/05/2023 | Date of grant for 11,000 restricted shares, a portion of which vested on 08/05/2024. |
| 08/05/2024 | Date of restricted stock award (33,000 shares), vesting of portions of previous awards, and tax withholding. |
| 08/07/2024 | Date of signature for the Form 4 filing. |
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