Form 4: Gates Industrial Corp Director Tillman Reports Share Disposal for Tax Obligations
SEC Form 4 Filing
Director Alicia L. Tillman of Gates Industrial Corp plc reports disposing of 7 ordinary shares to cover tax obligations upon vesting of restricted stock units.
Summary
- On March 1, 2024, Alicia L. Tillman, a director of Gates Industrial Corp plc, disposed of 7 ordinary shares.
- The shares were withheld by the company to satisfy payment of par value upon the vesting of previously granted time-based restricted stock units (TBRSUs) in accordance with U.K. corporate law.
- The transaction was executed at a price of $14.72 per share.
- Following the transaction, Tillman directly owns 24,621 ordinary shares.
Sentiment
Score: 6
Explanation: Neutral sentiment as the filing reflects a routine transaction related to tax obligations.
Industry Context
Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it involves a small number of shares and is related to tax obligations.
Key Dates
| Date | Description |
|---|---|
| 03/01/2024 | Date of transaction: Disposal of ordinary shares. |
| 03/05/2024 | Date of signature for the Form 4 filing. |
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