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 April 1, 2024, James L. Morvant, SVP of Operations at Gulf Island Fabrication Inc. (GIFI), disposed of 1,412 and 1,624 shares of common stock to cover tax obligations.
- The shares were withheld upon the vesting of restricted stock units at a price of $7.5.
- Following the transaction, Morvant directly owns 100,650 shares of Gulf Island Fabrication Inc.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the filing represents a routine transaction related to executive compensation and does not indicate any significant positive or negative developments for the company.
Industry Context
This filing is a routine disclosure related to executive compensation and does not necessarily reflect a significant event for Gulf Island Fabrication Inc.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a routine disposal of shares by an executive to cover tax obligations.
Key Dates
| Date | Description |
|---|---|
| 04/01/2024 | Date of transaction: Disposal of shares to cover tax obligations. |
| 04/03/2024 | Date of signature for the Form 4 filing. |
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