Form 4: Local Bounti Corporation: General Counsel Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Margaret McCandless, General Counsel & Secretary of Local Bounti Corporation, sold shares to cover withholding tax liabilities upon settlement of restricted stock units.
Summary
- On April 1, 2025, Margaret McCandless, General Counsel & Secretary of Local Bounti Corporation, disposed of 2,432 shares of common stock.
- The shares were withheld by the company to cover the withholding tax liability incurred upon the settlement of previously awarded restricted stock units.
- Following the transaction, McCandless directly owns 42,339 shares of Local Bounti Corporation.
- The transaction was reported on April 3, 2025.
Sentiment
Score: 5
Explanation: This is a neutral event. It's a routine transaction to cover tax obligations and doesn't necessarily indicate a positive or negative outlook for the company.
Industry Context
Form 4 filings are a routine part of insider trading activity and are used to ensure transparency in the market. This transaction is a common occurrence where shares are sold to cover tax obligations related to stock-based compensation.
Key Dates
| Date | Description |
|---|---|
| 04/01/2025 | Date of transaction: shares disposed of to cover tax obligations. |
| 04/03/2025 | Date of report filing. |
Keywords
Form 4, Local Bounti Corporation, LOCL, Margaret McCandless, General Counsel, Secretary, Share Sale, Restricted Stock Units, Tax Withholding
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