Form 4: Gulf Island Fabrication SVP, Operations, James L. Morvant, Reports Changes in Beneficial Ownership
SEC Form 4 Filing
James L. Morvant, SVP of Operations at Gulf Island Fabrication Inc., reports the disposal of shares to cover tax obligations upon vesting of restricted stock units.
Summary
- On May 1, 2024, James L. Morvant, SVP of Operations at Gulf Island Fabrication Inc. (GIFI), reported changes in beneficial ownership.
- Morvant disposed of 1,246 shares of common stock at $6.87 per share to cover taxes upon vesting of restricted stock units.
- An additional 1,732 shares were disposed of at the same price for the same reason.
- Following these transactions, Morvant directly owns 97,672 shares of Gulf Island Fabrication Inc.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing related to stock transactions for tax purposes, and does not indicate any significant positive or negative sentiment.
Industry Context
Form 4 filings are a routine part of insider trading regulations, providing transparency into the transactions of company executives and directors. This filing indicates the executive disposed of shares to cover tax obligations, which is a common practice.
Key Dates
| Date | Description |
|---|---|
| 05/01/2024 | Date of transaction: Disposal of shares to cover tax obligations upon vesting of restricted stock units. |
| 05/02/2024 | Date of signature for the Form 4 filing. |
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