Form 4: Holley Inc. Executive Brian Appelgate Reports Share Disposal for Tax Obligations

Brian Appelgate, Interim Chief Operating Officer of Holley Inc., reports the disposal of 686 common stock shares to cover tax withholding obligations upon vesting of restricted shares.

Summary

• On March 7, 2024, Brian Appelgate, Interim Chief Operating Officer of Holley Inc., disposed of 686 shares of common stock.
• The disposal was to cover required tax withholding upon the vesting of 2,815 restricted shares.
• The shares were sold at a price of $4.07 per share.
• Following the transaction, Appelgate directly owns 234,881 shares of Holley Inc. common stock.

Sentiment

Score: 5

Explanation: The document reflects a neutral event (tax obligation fulfillment) and doesn't inherently indicate positive or negative sentiment regarding the company's performance.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates a standard transaction to cover tax obligations, which is a common practice.

Comparison to Industry Standards

• Insider transactions are a normal part of corporate governance and are regularly disclosed via Form 4 filings.
• The sale of shares to cover tax obligations upon vesting of restricted stock is a common practice across publicly traded companies.
• Comparable companies such as Dorman Products and Standard Motor Products also have executives who regularly file Form 4s for similar transactions.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine sale of shares by an executive to cover tax obligations.

Key Dates