Form 4: Local Bounti Corporation Executive Margaret McCandless Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Margaret McCandless, General Counsel & Secretary of Local Bounti Corporation, reports a transaction involving common stock due to tax withholding upon settlement of restricted stock units.
Summary
- On March 1, 2024, Margaret McCandless, General Counsel & Secretary of Local Bounti Corporation, reported a transaction involving the company's common stock.
- 796 shares were disposed of at a price of $2.72 per share to cover withholding tax liabilities related to the settlement of previously awarded restricted stock units.
- Following the transaction, McCandless directly owns 25,874 shares of Local Bounti Corporation.
- The reported amounts reflect a 1-for-13 reverse stock split that took effect on June 15, 2023.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing related to stock transactions for tax purposes, indicating a neutral sentiment.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, and doesn't necessarily indicate a broader trend in the industry.
Stakeholder Impact
- The transaction has a minor impact on shareholders as it involves a small number of shares disposed of by an executive for tax purposes.
Key Dates
| Date | Description |
|---|---|
| 06/15/2023 | Effective date of the 1 to 13 reverse stock split. |
| 03/01/2024 | Date of the stock transaction (disposal of shares for tax withholding). |
| 03/05/2024 | Date of Form 4 filing. |
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