Form 4: Genesco Inc. Executive Mimi Eckel Vaughn Reports Tax Withholding Correction and Stock Transaction
SEC Form 4 Filing
Mimi Eckel Vaughn, Board Chair, President, and CEO of Genesco Inc., reports a transaction involving the withholding of shares for tax liabilities and a correction to a previously reported tax withholding.
Summary
- On March 24, 2024, Mimi Eckel Vaughn, Board Chair, President, and CEO of Genesco Inc., had 3,143 shares of common stock withheld to cover tax liabilities at a price of $26.86 per share.
- The filing also includes a correction to a previous Form 4 filed on June 29, 2023, which over-reported the tax withholding by 23 shares.
- Following the reported transaction, Vaughn directly owns 313,213 shares of Genesco Inc. common stock.
Sentiment
Score: 7
Explanation: The sentiment is neutral as it primarily reports a routine transaction and a correction. The correction is a positive sign of accurate reporting.
Positives
- The correction of the previously over-reported tax withholding ensures accurate reporting of beneficial ownership.
Industry Context
Form 4 filings are standard disclosures required by the SEC for corporate insiders, providing transparency into their transactions in the company's stock.
Stakeholder Impact
- The filing provides transparency to shareholders regarding insider transactions.
Key Dates
| Date | Description |
|---|---|
| November 20, 2020 | Date of Power of Attorney execution, granting Scott E. Becker and Parag D. Desai authority to act on behalf of Mimi Eckel Vaughn for SEC filings. |
| June 29, 2023 | Date of the original Form 4 that contained an error in reporting tax withholding. |
| March 24, 2024 | Date of the reported transaction involving the withholding of shares for tax liabilities. |
| March 25, 2024 | Date of signature for the Form 4 filing by Scott E. Becker, Attorney-in-Fact. |
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