Form 4: Douglas Elliman Executive Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
A Douglas Elliman executive, Daniel A. Sachar, sold 12,198 shares of common stock to cover payroll tax liabilities related to vesting restricted stock.
Summary
- Daniel A. Sachar, a Vice President at Douglas Elliman, sold 12,198 shares of the company's common stock on December 15, 2024.
- The sale was executed to cover payroll tax obligations arising from the vesting of 31,000 restricted stock shares.
- The shares were sold at a price of $2.0125 per share.
- The price was calculated as the average of the low ($1.965) and high ($2.06) stock prices on December 13, 2024.
- Following the transaction, Sachar directly owns 102,607 shares of Douglas Elliman stock.
Sentiment
Score: 5
Explanation: The document reflects a routine transaction for tax purposes, not indicative of positive or negative sentiment.
Industry Context
This is a routine transaction for executives who receive stock-based compensation. It is common for executives to sell shares to cover tax obligations when restricted stock vests.
Comparison to Industry Standards
- Many public companies use restricted stock as part of executive compensation packages.
- It is standard practice for executives to sell a portion of their vested shares to cover tax liabilities.
- The sale of shares by an executive to cover taxes is a common occurrence and does not necessarily indicate a negative outlook on the company's future.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a routine sale to cover tax obligations.
Key Dates
| Date | Description |
|---|---|
| 12/16/2021 | Date of Limited Power of Attorney filed with Form 3. |
| 12/21/2021 | Date the Limited Power of Attorney was filed. |
| 12/31/2021 | Date of one of the restricted stock awards that vested. |
| 03/14/2023 | Date of one of the restricted stock awards that vested. |
| 02/29/2024 | Date of one of the restricted stock awards that vested. |
| 12/13/2024 | Date used to calculate the average stock price for the sale. |
| 12/15/2024 | Date of the stock sale transaction. |
| 12/17/2024 | Date of the signature on the Form 4. |
Keywords
Douglas Elliman, stock sale, insider trading, Form 4, restricted stock, payroll tax, executive compensation
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