4/A: GCT Semiconductor Executive Amends Filing to Correct Stock Ownership and Option Expiration Dates
SEC Filing (Form 4/A)
A GCT Semiconductor executive, Alex Sum, files an amendment to a previous Form 4 to correct the number of common stock shares owned and the expiration dates of stock options.
Summary
- Alex Sum, Sr. VP of Sales and Marketing at GCT Semiconductor Holding, Inc., filed an amended Form 4 with the SEC.
- The amendment corrects the number of common stock shares directly owned following transactions reported on March 26, 2024, increasing the reported amount from 90,142 to 90,143.
- The amendment also corrects the expiration dates of stock options previously reported.
- The original filing was related to the business combination between Concord Acquisition Corp III, Gibraltar Merger Sub Inc., and GCT Semiconductor, Inc.
- As part of the business combination, GCT common stock was converted to Issuer common stock, and GCT stock options and restricted stock units (RSUs) were converted to Issuer equivalents.
- The RSUs vest in equal annual installments over four years from December 11, 2023.
- The stock options have an exercise price of $0.11 and vest over time based on service from January 1, 2015, January 1, 2018, January 1, 2019 and January 1, 2020.
Sentiment
Score: 7
Explanation: The document is a routine regulatory filing correcting minor errors, suggesting a neutral to slightly positive sentiment as it reflects attention to detail and compliance.
Industry Context
Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, ensuring transparency in the market.
Stakeholder Impact
- The correction of information in the Form 4 filing ensures accurate information for shareholders and potential investors.
Key Dates
| Date | Description |
|---|---|
| 2015-01-01 | Start date for vesting of some stock options. |
| 2016-01-01 | Start date for vesting of some stock options. |
| 2018-01-01 | Start date for vesting of some stock options. |
| 2019-01-01 | Start date for vesting of some stock options. |
| 2020-01-01 | Start date for vesting of some stock options. |
| 2021-01-01 | Start date for vesting of some stock options. |
| 2023-11-02 | Date of the Business Combination Agreement. |
| 2023-12-11 | Start date for RSU vesting. |
| 2024-02-27 | Date of the signature on the amended form. |
| 2024-03-26 | Date of the original Form 4 filing and the transactions reported. |
| 2025-02-23 | Expiration date of some stock options. |
| 2028-03-14 | Expiration date of some stock options. |
| 2029-04-19 | Expiration date of some stock options. |
| 2030-06-08 | Expiration date of some stock options. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.