Form 4: Leafly Holdings CEO Yoko Miyashita Reports Changes in Beneficial Ownership Due to RSU Vesting and Tax Withholding
SEC Form 4 Filing
Yoko Miyashita, CEO of Leafly Holdings, reports changes in beneficial ownership of common stock due to the vesting of restricted stock units (RSUs) and subsequent withholding of shares for tax obligations.
Summary
- Yoko Miyashita, CEO of Leafly Holdings, filed a Form 4 detailing changes in her beneficial ownership of the company's common stock.
- The changes are a result of the vesting of several tranches of restricted stock units (RSUs) granted to her on various dates.
- Upon vesting, the issuer withheld shares to satisfy withholding tax obligations.
- The transactions occurred on October 20, 2024, with a price of $1.97 per share for tax withholding purposes.
- A total of 2,484 shares were withheld to cover taxes related to the vesting of RSUs granted on August 17, 2022, October 6, 2022, July 25, 2023, November 30, 2023 and February 28, 2024.
- Miyashita also acquired 500 shares under the Leafly Holdings, Inc. 2021 Employee Stock Purchase Plan.
- Following these transactions, Miyashita directly owns 59,000 shares of common stock.
- This total includes 44,094 shares of common stock and 14,906 unvested RSUs.
Sentiment
Score: 6
Explanation: The document is neutral in tone, simply reporting required information about stock transactions. The vesting of RSUs is a regular part of executive compensation.
Positives
- The CEO's continued holding of a significant number of shares demonstrates alignment with shareholder interests.
- Participation in the Employee Stock Purchase Plan indicates confidence in the company's future.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders and their holdings in the company. This filing is specific to Leafly Holdings and its CEO's stock-based compensation.
Comparison to Industry Standards
- Stock-based compensation is a common practice among publicly traded companies, especially in the tech industry, to incentivize and retain key employees.
- The vesting schedules and tax withholding practices described in the Form 4 are standard procedures.
- Comparable companies like Canopy Growth, Tilray, and Curaleaf also utilize stock-based compensation, and their executives are subject to similar reporting requirements.
Stakeholder Impact
- The filing provides transparency to shareholders regarding the CEO's stock ownership.
- The transactions have a minimal direct impact on employees, customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| 08/17/2022 | Date of grant for certain restricted stock units (RSUs). |
| 10/06/2022 | Date of grant for certain restricted stock units (RSUs). |
| 07/25/2023 | Date of grant for certain restricted stock units (RSUs). |
| 11/30/2023 | Date of grant for certain restricted stock units (RSUs). |
| 02/28/2024 | Date of grant for certain restricted stock units (RSUs). |
| 10/20/2024 | Date of transaction (vesting of RSUs and tax withholding). |
| 10/21/2024 | Closing stock price used for net settlement of RSUs. |
| 10/22/2024 | Date of Form 4 filing. |
Keywords
Form 4, beneficial ownership, Leafly Holdings, LFLY, Yoko Miyashita, CEO, restricted stock units, RSUs, tax withholding, employee stock purchase plan
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.