Form 4: Local Bounti CEO Craig M. Hurlbert Reports Changes in Beneficial Ownership

Craig M. Hurlbert, CEO of Local Bounti Corporation, reports a transaction involving the withholding of shares for tax liabilities and indirect ownership through Wheat Wind Farms, LLC.

Summary

• On January 1, 2025, Craig M. Hurlbert, CEO of Local Bounti Corporation, reported changes in his beneficial ownership of the company's stock.
• The report details the withholding of 13,684 shares of common stock at a price of $2.07 to cover withholding tax liabilities.
• Hurlbert also reports indirect ownership of 1,177,386 shares through Wheat Wind Farms, LLC, where he serves as Member-Manager.
• He disclaims beneficial ownership of these shares except to the extent of his pecuniary interest.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing, so the sentiment is neutral.

Management Comments

• The Reporting Person disclaims beneficial ownership of such shares and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of such shares for purposes of Section 16 or for any other purpose, except to the extent of his pecuniary interest therein.

Industry Context

This filing is a routine disclosure required by the SEC for corporate insiders, providing transparency into their transactions in the company's stock. It is common for executives to have shares withheld to cover tax obligations when restricted stock units vest.

Stakeholder Impact

• Shareholders are informed about the CEO's transactions in the company's stock, promoting transparency.

Key Dates