Form 4: Cheemin Bo-Linn, Former Flux Power Holdings Director, Reports Share Transactions and Departure
SEC Form 4
Cheemin Bo-Linn, a former director of Flux Power Holdings, reported the vesting of restricted stock units and her departure from the company's board, ceasing Section 16 reporting obligations.
Summary
- Cheemin Bo-Linn, a former director of Flux Power Holdings, filed a Form 4 to report transactions related to restricted stock units (RSUs).
- The report indicates that 16,883 RSUs from the 2023 grant and 1,678 RSUs from the 2022 grant vested on April 18, 2024.
- These RSUs represent a contingent right to receive one share of Flux Power Holdings common stock upon vesting.
- The filing also notes that Bo-Linn is no longer serving as a director, effective April 18, 2024, and is therefore no longer subject to Section 16 reporting requirements.
- The filing includes a power of attorney previously filed on May 2, 2022.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing, indicating a neutral sentiment.
Industry Context
This filing is a routine disclosure related to insider transactions and changes in roles within a publicly traded company, which is standard practice in corporate governance.
Management Changes
| Role | Previous Person | New Person | Effective Date | Reason |
|---|---|---|---|---|
| Director | Cheemin Bo-Linn | April 18, 2024 | Departure from the company |
Stakeholder Impact
- Shareholders are informed about insider transactions and changes in the board of directors.
Key Dates
| Date | Description |
|---|---|
| August 26, 2022 | Grant date of the 2022 Restricted Stock Units |
| May 2, 2022 | Date of previously filed Power of Attorney |
| April 20, 2023 | Grant date of the 2023 Restricted Stock Units |
| April 29, 2023 | One third of the 2022 Grant vested |
| April 18, 2024 | Date of RSU vesting acceleration and Bo-Linn's departure as director. |
| April 19, 2024 | Date of Form 4 filing. |
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