Form 4: Leafly Holdings CFO Suresh Krishnaswamy Reports Tax-Related Stock Disposals
SEC Form 4 Filing
CFO of Leafly Holdings, Suresh Krishnaswamy, reports disposals of common stock to cover tax obligations related to vesting restricted stock units.
Summary
- Suresh Krishnaswamy, CFO of Leafly Holdings, filed a Form 4 detailing changes in beneficial ownership.
- The report indicates the disposal of common stock to satisfy withholding taxes related to the vesting of restricted stock units (RSUs).
- The transactions occurred on January 20, 2025, with a price of $0.28 per share.
- A total of 1,793 shares were disposed of to cover these tax obligations.
- Following these transactions, Krishnaswamy directly owns 38,073 shares of Leafly Holdings common stock, including unvested RSUs.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock disposals for tax purposes, indicating a neutral sentiment.
Industry Context
Form 4 filings are standard practice for company insiders and officers, providing transparency into their transactions in the company's stock. This filing indicates routine tax-related disposals, which are common when RSUs vest.
Comparison to Industry Standards
- Form 4 filings are a standard regulatory requirement for publicly traded companies in the US, ensuring transparency of insider transactions.
- Similar filings are expected from executives at comparable companies in the cannabis industry, such as Tilray, Canopy Growth, and Curaleaf, when they exercise stock options or RSUs.
- The number of shares disposed of for tax purposes is proportional to the value of the vested RSUs and the applicable tax rates, which would be similar across companies for executives with comparable compensation packages.
Key Dates
| Date | Description |
|---|---|
| August 17, 2022 | Date of grant for certain restricted stock units (RSUs). |
| October 6, 2022 | Date of grant for certain restricted stock units (RSUs). |
| October 20, 2022 | 25% of RSUs granted on August 17, 2022 and October 6, 2022 vested. |
| July 25, 2023 | Date of grant for certain restricted stock units (RSUs). |
| August 20, 2023 | First vesting date for RSUs granted on July 25, 2023. |
| February 28, 2024 | Date of grant for certain restricted stock units (RSUs). |
| April 20, 2024 | First vesting date for RSUs granted on February 28, 2024. |
| January 20, 2025 | Transaction date for the disposal of shares to cover tax obligations. |
| January 21, 2025 | Closing stock price used for net settlement of RSUs. |
| January 22, 2025 | Date of signature for the Form 4 filing. |
Keywords
Form 4, Beneficial Ownership, Leafly Holdings, LFLY, Suresh Krishnaswamy, CFO, Restricted Stock Units, RSUs, Tax Withholding, Stock Disposal
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