Form 4: Galaxy Digital CFO Sells Shares for Tax Obligations
Insider Transaction Report
Galaxy Digital's CFO, Anthony Paquette, reported the disposition of 41,720 Class A common shares to cover tax liabilities related to RSU vesting.
Summary
- Anthony Paquette, Chief Financial Officer of Galaxy Digital Inc. (GLXY), reported a transaction on December 26, 2025.
- The transaction involved the disposition of 41,720 shares of Class A Common Stock at a price of $24.43 per share.
- These shares were withheld for taxes upon the vesting of 93,750 Restricted Share Units (RSUs) on December 26, 2025.
- Following this transaction, Mr. Paquette beneficially owns 333,280 shares of Class A Common Stock.
- The remaining beneficial ownership includes 281,250 shares from RSU awards scheduled to vest in future installments: 93,750 RSUs on December 26, 2026; 93,750 RSUs on December 26, 2027; and 93,750 RSUs on December 26, 2028.
Sentiment
Score: 5
Explanation: The filing reports a routine insider transaction (tax withholding upon RSU vesting) which is a mechanical event and does not provide new information to significantly alter the company's sentiment.
Future Outlook
The filing indicates future RSU vesting events for Anthony Paquette, with 93,750 RSUs scheduled to vest on December 26, 2026, December 26, 2027, and December 26, 2028, respectively.
Industry Context
This Form 4 filing is a routine disclosure of an insider transaction, specifically a tax-related disposition of shares upon RSU vesting. Such transactions are common across all industries for executives receiving equity compensation and do not inherently reflect broader industry trends or competitive positioning.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Authorization Update | Anthony Paquette granted a Power of Attorney to Matthew Friedrich, Frances Fuqua, Leinee Hornbeck, and Mike Novogratz to execute and file SEC Forms 3, 4, 5, and 144 on his behalf. | 12/22/2025 | Streamlines the process for filing required insider transaction reports for the CFO, ensuring timely compliance with SEC regulations. |
Stakeholder Impact
- Shareholders: Minimal direct impact as this is a routine, pre-scheduled transaction for tax purposes and does not reflect a change in company fundamentals or management's outlook.
Next Steps
- Future vesting of 93,750 RSUs on December 26, 2026.
- Future vesting of 93,750 RSUs on December 26, 2027.
- Future vesting of 93,750 RSUs on December 26, 2028.
Key Dates
| Date | Description |
|---|---|
| 12/22/2025 | Date Anthony Paquette executed the Power of Attorney for SEC filings. |
| 12/26/2025 | Date of transaction and vesting of 93,750 RSUs, leading to the disposition of shares for tax withholding. |
| 12/30/2025 | Date the Form 4 was signed by the attorney-in-fact. |
| 12/26/2026 | Scheduled vesting date for 93,750 RSUs. |
| 12/26/2027 | Scheduled vesting date for 93,750 RSUs. |
| 12/26/2028 | Scheduled vesting date for 93,750 RSUs. |
Recommendation
holdThe Form 4 filing details a routine disposition of shares by the CFO to cover tax liabilities upon RSU vesting. This is a standard, pre-scheduled event and does not provide new information that would alter the fundamental investment thesis for Galaxy Digital Inc. Therefore, a 'hold' recommendation is appropriate as this transaction is not indicative of a change in company performance or outlook.
Keywords
Galaxy Digital, GLXY, Form 4, Insider Transaction, RSU Vesting, Tax Withholding, CFO, Stock Disposition
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