Form 4: Fabrinet CEO Seamus Grady Disposes of Shares to Cover Tax Obligations
SEC Form 4 Filing
Fabrinet's CEO, Seamus Grady, disposed of 2,931 ordinary shares on August 24, 2024, to cover tax liabilities related to vesting restricted share units.
Summary
- On August 24, 2024, Seamus Grady, the CEO of Fabrinet, disposed of 2,931 ordinary shares.
- The shares were disposed of at a price of $267.35 per share.
- This transaction was to cover the reporting person's tax liability in connection with the vesting of restricted share units.
- Following the transaction, Grady directly owns 64,293 ordinary shares.
Sentiment
Score: 5
Explanation: This is a routine transaction related to tax obligations and does not indicate a change in the executive's confidence in the company. Therefore, the sentiment is neutral.
Industry Context
Form 4 filings are a routine part of executive compensation and are common across publicly traded companies. This transaction reflects standard practice for covering tax obligations related to equity compensation.
Stakeholder Impact
- The disposal of shares by the CEO to cover tax obligations may have a minor impact on shareholders due to the slight dilution of shares.
- The impact on employees, customers, suppliers, and creditors is expected to be negligible.
Key Dates
| Date | Description |
|---|---|
| 08/24/2024 | Date of the transaction where 2,931 ordinary shares were disposed of. |
| 08/27/2024 | Date of signature by Andrew Chew, Attorney-in-fact for Seamus Grady. |
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