Form 4: HeartBeam Director Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
A HeartBeam, Inc. director, George de Urioste, sold 1,674 shares of common stock on September 6, 2024, to cover tax withholding obligations related to vested restricted stock units.
Summary
- On September 6, 2024, George de Urioste, a director of HeartBeam, Inc., sold 1,674 shares of common stock at a price of $2.34 per share.
- The sale was executed to cover tax withholding obligations associated with the vesting of restricted stock units (RSUs).
- The RSUs vested on June 12, 2024, the date of HeartBeam's 2024 annual meeting of stockholders.
- Following the transaction, de Urioste beneficially owns 57,146 shares of HeartBeam common stock.
- De Urioste also holds an option to buy 44,000 shares of common stock at an exercise price of $4.25, granted on November 12, 2021, vesting monthly from September 27, 2021.
Sentiment
Score: 5
Explanation: The document describes a routine transaction (sale of shares to cover taxes) and doesn't contain any information that would significantly impact investor sentiment positively or negatively.
Industry Context
Sales of shares by company directors are a normal part of corporate governance. It is important to consider the size of the sale relative to the director's total holdings. In this case, the sale is a small percentage of the director's holdings.
Stakeholder Impact
- The sale of shares by a director could have a minor negative impact on shareholder sentiment, but is unlikely to have a significant impact.
Key Dates
| Date | Description |
|---|---|
| 2021-09-27 | Vesting commencement date for stock options. |
| 2021-11-12 | Date stock options were granted. |
| 2024-06-12 | Date of HeartBeam's 2024 annual meeting of stockholders, when RSUs vested. |
| 2024-09-06 | Date of the share sale transaction. |
| 2024-09-11 | Date of signature on the Form 4 filing. |
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