Form 4: Getaround's General Counsel Sells Shares to Cover Tax Obligations
SEC Form 4
Spencer D. Jackson, General Counsel & Secretary of Getaround, Inc., reports the sale of common stock to cover tax obligations related to vested restricted stock units (RSUs).
Summary
- Spencer D. Jackson, General Counsel & Secretary of Getaround, Inc. filed a Form 4 detailing changes in beneficial ownership.
- Jackson sold shares of Getaround common stock on June 6, 10, and 12, 2024, to satisfy tax withholding obligations related to the vesting of restricted stock units (RSUs).
- The sales were executed at prices ranging from $0.1498 to $0.1631 per share.
- Jackson also acquired shares through the vesting of RSUs on August 8, 2023, and January 18, 2024.
- Following these transactions, Jackson directly owns 414,433 shares of Getaround common stock.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the filing primarily reflects routine transactions related to equity compensation and tax obligations.
Industry Context
Form 4 filings are standard practice and provide transparency into the trading activities of company insiders. These filings are closely watched by investors for signals about management's confidence in the company's prospects.
Comparison to Industry Standards
- Insider sales to cover tax obligations on RSU vesting are a common practice across publicly traded companies.
- The scale of these transactions is typical for executives receiving equity compensation.
- Comparable companies like Uber or Lyft also see regular Form 4 filings related to RSU vesting and subsequent sales for tax purposes.
Stakeholder Impact
- The sales could have a minor impact on the stock price due to increased selling pressure, but the impact is likely to be minimal given the context of tax obligations.
Key Dates
| Date | Description |
|---|---|
| 08/08/2023 | Acquisition of 109,000 shares of Common Stock through RSU vesting. |
| 08/15/2023 | Vesting of 36,333 shares of Common Stock underlying a time-based restricted stock unit award. |
| 01/18/2024 | Acquisition of 350,000 shares of Common Stock through RSU vesting. |
| 02/15/2024 | Vesting of 98,438 shares of Common Stock underlying a time-based restricted stock unit award. |
| 06/06/2024 | Sale of 10,372 shares of Common Stock at $0.1631 per share. |
| 06/10/2024 | Sale of 35,835 shares of Common Stock at $0.1498 per share. |
| 06/12/2024 | Sale of 39,071 shares of Common Stock at $0.1544 per share. |
| 07/24/2024 | Date of signature for the Form 4 filing. |
Keywords
Form 4, Getaround, Insider Trading, Spencer D. Jackson, Beneficial Ownership, Restricted Stock Units, Tax Withholding, Common Stock
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