Form 4: Kingstone Companies CFO Jennifer Gravelle Reports Stock Transaction

Kingstone Companies' Chief Financial Officer, Jennifer Gravelle, reported a transaction involving the withholding of shares to cover taxes and the vesting of stock options.

Summary

• Jennifer Gravelle, the Chief Financial Officer of Kingstone Companies, Inc., filed a Form 4 detailing changes in her beneficial ownership of company stock.
• On January 17, 2024, 2,021 shares of common stock were withheld to cover taxes related to a vested stock grant at a price of $2.4 per share.
• Following this transaction, Ms. Gravelle beneficially owns 12,514 shares of common stock, which includes 9,690 unvested shares from a restricted stock grant.
• The unvested shares will vest in two equal installments of 4,845 shares on January 17, 2025, and January 17, 2026.
• Ms. Gravelle also holds a stock option for 10,000 shares at an exercise price of $2.25, which vests in three tranches on January 5, 2025, January 5, 2026, and January 5, 2027.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing and does not indicate any positive or negative sentiment.

Industry Context

This is a routine filing related to executive compensation and is typical for publicly traded companies.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies in the US, as required by the SEC.
• The vesting schedules for stock options and restricted stock are common methods of executive compensation.
• The withholding of shares to cover taxes is a standard procedure in equity compensation.

Stakeholder Impact

• The transaction has a minor impact on shareholders as it involves a small number of shares related to executive compensation.

Key Dates

Keywords

Form 4, Beneficial Ownership, Stock Transaction, Stock Options, Restricted Stock, Kingstone Companies, Jennifer Gravelle, CFO