Form 4: Lantronix CFO Jeremy Whitaker Reports Stock Vesting and Tax Withholding
SEC Form 4 Filing
Chief Financial Officer of Lantronix, Jeremy Whitaker, reports the vesting of Restricted Stock Units (RSUs) and associated tax withholding on September 9, 2024.
Summary
- On September 9, 2024, Jeremy Whitaker, the CFO of Lantronix, reported the vesting of performance-based Restricted Stock Units (RSUs).
- These RSUs were granted on July 27, 2021, July 5, 2022, and July 3, 2023, with vesting contingent upon meeting certain earnings per share, revenue, and relative total stockholder return targets.
- A total of 30,275 RSUs from the 2021 grant, 40,876 RSUs from the 2022 grant, and 52,060 RSUs from the 2023 grant vested on September 9, 2024.
- To cover required tax withholding, 66,779 shares of Lantronix common stock were withheld at a price of $4.14 per share.
- Following these transactions, Whitaker directly owns 342,322 shares of Lantronix common stock.
Sentiment
Score: 7
Explanation: The document reflects a routine transaction related to executive compensation, indicating that performance targets were met. This is generally viewed as neutral to slightly positive.
Positives
- The vesting of RSUs indicates that performance targets related to earnings per share, revenue, and relative total stockholder return were met for fiscal year 2024.
Industry Context
This filing is a routine disclosure related to executive compensation and is typical for publicly traded companies.
Stakeholder Impact
- The vesting of RSUs aligns executive compensation with company performance, potentially benefiting shareholders.
Key Dates
| Date | Description |
|---|---|
| 07/27/2021 | Reporting person was granted Restricted Stock Units ('RSUs') with performance-based vesting requirements. |
| 07/05/2022 | Reporting person was granted Restricted Stock Units ('RSUs') with performance-based vesting requirements. |
| 07/03/2023 | Reporting person was granted Restricted Stock Units ('RSUs') with performance-based vesting requirements. |
| 09/09/2024 | Vesting and payment of RSUs subject to the award with respect to the performance conditions that were satisfied for fiscal 2024. |
| 09/10/2024 | Date of signature for the Form 4 filing. |
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