Form 4: Gen Digital CEO Vincent Pilette Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Gen Digital CEO Vincent Pilette reports the withholding of shares to cover income tax obligations related to RSU settlement, alongside adjustments in direct and indirect ownership.
Summary
- On May 1, 2024, Gen Digital Inc. CEO Vincent Pilette reported changes in his beneficial ownership of the company's stock.
- The reported transaction involved the withholding of 92,901 shares of common stock by the issuer to satisfy income tax obligations related to the net settlement of Restricted Stock Units (RSUs) at a price of $19.95 per share.
- Following the transaction, Pilette directly owns 1,388,335 shares of Gen Digital Inc.
- Pilette also indirectly owns 103,000 shares through the VPJW Revocable Trust and 517,477 shares through the VPJW Exempt Gift Trust.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing, indicating a neutral sentiment.
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 provides transparency to shareholders regarding executive compensation and ownership.
Key Dates
| Date | Description |
|---|---|
| 05/01/2024 | Date of transaction involving the withholding of shares for tax obligations. |
| 05/03/2024 | Date of signature for the report. |
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