Form 4: Harmonic Inc. CEO Patrick Harshman Reports Stock Transactions
SEC Form 4 Filing
CEO Patrick Harshman of Harmonic Inc. reports the acquisition and disposal of common stock and restricted stock units on May 15, 2024.
Summary
- On May 15, 2024, Patrick Harshman, the President and CEO of Harmonic Inc., engaged in transactions involving the company's stock.
- Harshman acquired 26,160 shares of common stock at $0 and disposed of 13,955 shares at $11.3.
- Following these transactions, Harshman directly owns 792,598 shares of Harmonic Inc.
- He also disposed of 13,684 and 12,476 restricted stock units, representing a contingent right to receive one share of HLIT common stock.
- After the transactions, Harshman beneficially owns 41,051 and 87,338 restricted stock units.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing detailing stock transactions, which carries a neutral sentiment.
Industry Context
This Form 4 filing is a routine disclosure required by the SEC for corporate insiders, providing transparency into their trading activities. It is a standard practice for executives to receive and trade company stock as part of their compensation.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies and their executives.
- Similar filings are made by executives at companies like CommScope and Arris, which also operate in the telecommunications and networking space.
- The volume and frequency of these transactions are typical for executive compensation and stock option exercises.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in ownership by a key executive.
- The transactions are part of the executive's compensation and may affect employee morale positively or negatively depending on their perception of executive compensation.
Key Dates
| Date | Description |
|---|---|
| 02/15/2023 | Date restricted stock units were exercisable |
| 02/15/2024 | Date restricted stock units were exercisable |
| 02/15/2025 | Expiration date of restricted stock units |
| 02/15/2026 | Expiration date of restricted stock units |
| 05/15/2024 | Date of stock transactions |
| 05/17/2024 | Date of signature by Attorney-in-Fact |
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