Form 4: Impinj CEO Chris Diorio Reports Stock Sales to Cover Tax Obligations
SEC Form 4 Filing
Impinj's CEO, Chris Diorio, sold shares of common stock to cover tax withholding obligations related to the vesting of restricted stock units.
Summary
- Chris Diorio, the CEO of Impinj Inc., reported the sale of company stock to cover tax obligations related to vested restricted stock units (RSUs).
- On July 12, 2024, 3,125 shares were acquired through the vesting of RSUs.
- On July 15, 2024, a total of 1,091 shares were sold in multiple transactions at weighted-average prices of $175.0527, $176.028, and $176.695.
- Following these transactions, Diorio directly owns 291,412 shares of common stock and indirectly owns 552,494 shares through DFT L.L.C.
- The sales were non-discretionary and intended to cover tax withholding obligations associated with the RSU settlement.
Sentiment
Score: 6
Explanation: The sentiment is neutral. The filing reflects routine transactions related to executive compensation and tax obligations, which are not inherently positive or negative.
Industry Context
Executive stock sales are a common occurrence, particularly to cover tax obligations related to equity compensation. The market typically views these sales as routine unless the volume is unusually large or coincides with other negative news.
Stakeholder Impact
- The stock sales could have a minor, temporary impact on shareholders due to the increased supply of shares in the market.
Key Dates
| Date | Description |
|---|---|
| April 12, 2021 | Reporting person was granted 50,000 RSUs, one fourth of which vested on April 12, 2022, with an additional one-sixteenth of such RSUs vesting every three months thereafter. |
| April 12, 2022 | One fourth of the 50,000 RSUs granted on April 12, 2021 vested. |
| 07/12/2024 | Date of RSU vesting resulting in the acquisition of 3,125 shares. |
| 07/15/2024 | Date of stock sales to cover tax obligations. |
| 07/16/2024 | Date of signature for the Form 4 filing. |
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