Form 4: HeartBeam Director Sells Shares to Cover Tax Obligations

Director George de Urioste sold 2,194 shares of HeartBeam, Inc. stock to cover tax withholding obligations related to vested restricted stock units.

Summary

• On August 27, 2024, George de Urioste, a director of HeartBeam, Inc., sold 2,194 shares of common stock at a price of $2.26 per share.
• The sale was executed to cover tax withholding obligations associated with the vesting of restricted stock units (RSUs).
• These RSUs vested on June 12, 2024, the date of HeartBeam's annual meeting of stockholders.
• Following the transaction, de Urioste directly owns 64,320 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, until fully vested on November 12, 2031.

Sentiment

Score: 5

Explanation: The document describes a routine transaction (sale of shares to cover taxes) and doesn't inherently indicate positive or negative sentiment about the company's prospects.

Industry Context

Form 4 filings are standard disclosures required by the SEC when company insiders, like directors, buy or sell their company's stock. These filings provide transparency into insider transactions and can be monitored by investors for insights into management's perspective on the company's value.

Stakeholder Impact

• The sale of shares by a director could have a minor impact on shareholder sentiment, but is unlikely to be significant given the reason for the sale.

Key Dates