Form 4: Douglas Elliman VP Sells Shares for Tax
Insider Transaction Report
Douglas Elliman Inc.'s Vice President of Communications, Stephen T. Larkin, disposed of 21,118 common shares to cover tax liabilities related to restricted stock vesting.
Summary
- Stephen T. Larkin, Vice President of Communications at Douglas Elliman Inc. (DOUG), reported a transaction on December 15, 2025.
- The transaction involved the disposition of 21,118 shares of common stock.
- These shares were withheld to cover payroll tax liabilities associated with the vesting of 38,750 restricted stock units.
- The shares were valued at $2.755 each, based on the average of the day's high ($2.85) and low ($2.66) stock prices on the vesting date.
- Following this transaction, Larkin beneficially owns 91,249 shares of Douglas Elliman Inc. common stock.
- The restricted stock units that vested were originally awarded on December 31, 2021, March 14, 2023, and February 29, 2024.
Sentiment
Score: 5
Explanation: The filing reports a routine insider transaction related to executive compensation and tax obligations, which is neutral in terms of company performance or strategic direction.
Positives
- Vesting of 38,750 restricted stock units indicates a successful retention and compensation event for a key executive.
- The executive continues to hold a significant number of shares (91,249), aligning his interests with shareholders.
Negatives
- The disposition of 21,118 shares reduces the executive's direct ownership, although this is a standard practice for tax obligations upon vesting.
Future Outlook
NA
Industry Context
NA
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Power of Attorney Grant | Stephen T. Larkin granted a Limited Power of Attorney to Bradley H. Brodie and J. Bryant Kirkland III to prepare, execute, and submit SEC filings (Forms 3, 4, 5, Schedule 13D/13G) on his behalf for Section 13 and Section 16 reporting. | 2025-12-16 | Streamlines compliance with SEC reporting requirements for the reporting person, ensuring timely and accurate filings. |
Stakeholder Impact
- Shareholders: Minimal impact, as it's a routine tax-related disposition by an executive, not indicative of a change in company fundamentals or executive confidence.
- Employees: Reflects standard executive compensation practices, which can be a positive for employee morale and retention if viewed as fair and transparent.
Key Dates
| Date | Description |
|---|---|
| 2021-12-31 | Award date for a portion of the restricted stock units that vested. |
| 2023-03-14 | Award date for a portion of the restricted stock units that vested. |
| 2024-02-29 | Award date for a portion of the restricted stock units that vested. |
| 2025-12-15 | Date of transaction (vesting and share withholding for tax liabilities). |
| 2025-12-16 | Date Stephen T. Larkin executed the Limited Power of Attorney. |
| 2025-12-17 | Date the Form 4 was signed by the Attorney-in-Fact. |
Keywords
Douglas Elliman, DOUG, Stephen T. Larkin, Form 4, insider transaction, stock withholding, restricted stock, equity compensation, tax liabilities, beneficial ownership
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