Form 4: Harmonic Inc. Executive Timothy C. Chu Reports Stock Transactions
SEC Form 4 Filing
General Counsel & SVP, HR of Harmonic Inc., Timothy C. Chu, reports the acquisition and disposal of common stock and restricted stock units on August 15, 2024.
Summary
- On August 15, 2024, Timothy C. Chu, General Counsel & SVP, HR of Harmonic Inc., reported transactions involving Harmonic Inc. common stock and restricted stock units.
- Chu acquired 12,021 shares of common stock through the vesting of restricted stock units.
- Chu disposed of 4,242 shares of common stock to cover tax obligations at a price of $14.01 per share.
- Following these transactions, Chu directly owns 66,836 shares of Harmonic Inc. common stock.
- Chu also disposed of 6,798 and 5,223 restricted stock units, leaving him with 13,596 and 31,338 restricted stock units respectively.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions by an insider, with no inherent positive or negative sentiment.
Industry Context
This Form 4 filing is a routine disclosure required by the SEC for corporate insiders, providing transparency into their trading activities and holdings in the company's stock.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in insider ownership.
- The disposal of shares to cover tax obligations is a normal part of executive compensation and may not significantly affect stakeholders.
Key Dates
| Date | Description |
|---|---|
| 02/15/2023 | Date exercisable for 6,798 Restricted Stock Units |
| 02/15/2024 | Date exercisable for 5,223 Restricted Stock Units |
| 02/15/2025 | Expiration date for 6,798 Restricted Stock Units |
| 02/15/2026 | Expiration date for 5,223 Restricted Stock Units |
| 08/15/2024 | Date of transaction for common stock and restricted stock units |
| 08/19/2024 | Date of signature for the report |
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