Form 4: Everi Holdings Inc. EVP, CFO Mark F. Labay Reports Stock Transactions
SEC Form 4
Mark F. Labay, EVP and CFO of Everi Holdings Inc., reports the acquisition and disposal of common stock and restricted stock units to cover tax obligations.
Summary
- On May 10, 2024, Mark F. Labay acquired 12,334 and 8,333 shares of common stock through the vesting of restricted stock units.
- Also on May 10, 2024, corresponding restricted stock units were disposed of.
- On May 14, 2024, Labay sold 3,068 shares at $7.65 and 2,052 shares at $7.73 to cover tax withholding obligations related to the settlement of restricted stock units.
- Following these transactions, Labay directly owns 159,660 shares of Everi Holdings Inc. common stock and 8,333 restricted stock units.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.
Industry Context
This filing is a routine disclosure of stock transactions by a company executive, which is common in publicly traded companies. It provides transparency into the executive's holdings and transactions in the company's stock.
Comparison to Industry Standards
- Executive stock transactions are a standard practice in publicly traded companies like Everi Holdings Inc.
- Similar filings are routinely made by executives at comparable companies such as International Game Technology (IGT) and Scientific Games (now Light & Wonder) to disclose changes in their beneficial ownership of company stock.
- The 'sell to cover' practice for tax obligations is also a common industry practice.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the small volume of shares sold.
- The 'sell to cover' policy ensures the company meets its tax obligations related to executive compensation.
Key Dates
| Date | Description |
|---|---|
| 05/02/2023 | Date of grant for an original award of 37,000 restricted stock units vesting in equal installments over three years. |
| 05/03/2022 | Date of grant for an original award of 25,000 restricted stock units vesting in equal installments over three years. |
| 05/10/2024 | Acquisition of 12,334 and 8,333 shares of common stock through restricted stock unit vesting. |
| 05/14/2024 | Sale of 3,068 shares at $7.65 and 2,052 shares at $7.73 to cover tax obligations. |
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