Form 4: Everi Holdings Executive Darren Simmons Reports Stock Transactions
SEC Form 4 Filing
Darren Simmons, EVP at Everi Holdings, reports the vesting and sale of common stock to cover tax obligations.
Summary
- Darren Simmons, an EVP at Everi Holdings, filed a Form 4 detailing changes in beneficial ownership.
- On May 10, 2024, restricted stock units vested, resulting in the acquisition of 10,267 and 5,183 shares of common stock.
- Simmons sold 2,545 shares on May 14, 2024, at $7.64 per share and 1,277 shares at $7.73 per share to cover tax withholding obligations.
- Following these transactions, Simmons directly owns 164,178 shares of Everi Holdings common stock and 5,183 restricted stock units.
Sentiment
Score: 5
Explanation: The document reflects routine executive stock transactions, which are neither particularly positive nor negative.
Industry Context
This filing is a routine disclosure of stock transactions by a company executive, common in publicly traded companies.
Comparison to Industry Standards
- Executive stock transactions are a normal part of compensation in publicly traded companies like Everi Holdings.
- Similar transactions are regularly reported by executives at companies such as International Game Technology (IGT) and Scientific Games (now Light & Wonder) as part of their compensation packages.
- The 'sell to cover' practice for tax obligations is a standard procedure across the industry.
Stakeholder Impact
- The transactions have a minimal impact on shareholders as they are related to executive compensation and tax obligations.
Key Dates
| Date | Description |
|---|---|
| 05/02/2023 | Date of grant for an original award of 30,800 restricted stock units vesting in equal installments over three years. |
| 05/03/2022 | Date of grant for an original award of 15,550 restricted stock units vesting in equal installments over three years. |
| 05/10/2024 | Restricted stock units vested, resulting in the acquisition of common stock. |
| 05/14/2024 | Shares of common stock were sold to cover tax withholding obligations. |
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