Form 4: Green Dot Corp CFO Jess Unruh Reports Stock Transaction
SEC Form 4
Green Dot Corp's Chief Financial Officer, Jess Unruh, had shares withheld to cover tax obligations related to the settlement of performance-based restricted stock units (PRSUs).
Summary
- Jess Unruh, the Chief Financial Officer of Green Dot Corp, had 647 shares of Class A Common Stock withheld by the company on December 15, 2024.
- This withholding was to cover income tax obligations related to the net settlement of PRSUs.
- The price per share used for the withholding was $11.00, which was the closing price on December 13, 2024.
- The transaction is not a sale by Mr. Unruh but a tax obligation settlement.
- Mr. Unruh's total holdings include 149,753 shares, which includes 1,609 shares acquired on May 14, 2024 and 1,150 shares acquired on November 14, 2024 through the company's employee stock purchase plan.
Sentiment
Score: 7
Explanation: The document reflects a routine transaction related to executive compensation and tax obligations, which is neutral to slightly positive as it indicates the executive is receiving compensation.
Industry Context
This is a routine transaction related to executive compensation and tax obligations, common in publicly traded companies.
Comparison to Industry Standards
- The withholding of shares for tax obligations is a standard practice for companies that offer equity-based compensation.
- Many companies, such as Block Inc. and PayPal Holdings, also use similar methods for settling equity awards.
- The employee stock purchase plan is a common benefit offered by many public companies to incentivize employee ownership.
Stakeholder Impact
- The transaction has a minor impact on shareholders as it involves a small number of shares being withheld for tax purposes.
- The transaction has a positive impact on the executive as it represents the settlement of performance-based compensation.
Key Dates
| Date | Description |
|---|---|
| 05/14/2024 | 1,609 shares acquired under the issuer's employee stock purchase plan. |
| 11/14/2024 | 1,150 shares acquired under the issuer's employee stock purchase plan. |
| 12/13/2024 | Closing price of $11.00 per share used for tax withholding calculation. |
| 12/15/2024 | Date of the stock withholding transaction. |
| 12/16/2024 | Date the Form 4 was signed. |
Keywords
Green Dot Corp, Jess Unruh, CFO, stock transaction, Form 4, tax withholding, PRSU, employee stock purchase plan
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