Form 4: Gen Digital Inc. Director Transfers Shares to Family Trust
SEC Form 4 Filing
Eric Brandt, a director at Gen Digital Inc., reported a transfer of shares to a family trust while retaining beneficial ownership.
Summary
- On September 12, 2024, Eric Brandt, a director of Gen Digital Inc., reported a transaction involving the transfer of 13,340 shares of common stock to The Brandt Family Trust.
- The transfer was a gift, with a reported price of $0 per share.
- Following the transaction, Brandt directly owns 10,038 shares and indirectly owns 59,646 shares through The Brandt Family Trust.
- Brandt retains beneficial ownership and exercises voting and dispositive power over the shares held in the trust.
Sentiment
Score: 5
Explanation: The document is a neutral regulatory filing, indicating a standard transaction. It doesn't inherently convey positive or negative sentiment.
Industry Context
Form 4 filings are a routine part of insider trading regulations, providing transparency into the transactions of company insiders.
Related Party Transactions
- The transfer of shares to The Brandt Family Trust constitutes a related party transaction.
Stakeholder Impact
- The transaction has minimal direct impact on stakeholders as it is a transfer of shares to a family trust with the director retaining beneficial ownership.
Key Dates
| Date | Description |
|---|---|
| 09/12/2024 | Date of the share transfer transaction. |
| 09/13/2024 | Date of signature for the Form 4 filing. |
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