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 May 1, 2025, Margaret McCandless, General Counsel & Secretary of Local Bounti Corporation, disposed of 4,535 shares of common stock.
- The shares were sold at a price of $2.39.
- This transaction was to cover the withholding tax liability incurred upon the settlement of previously awarded restricted stock units.
- Following the transaction, McCandless directly owns 77,804 shares of Local Bounti Corporation.
Sentiment
Score: 5
Explanation: The document describes a routine transaction (selling shares to cover tax obligations) and doesn't indicate any significant positive or negative sentiment.
Industry Context
Insider transactions are routinely monitored and reported to the SEC. Sales to cover tax obligations on vesting equity are common.
Stakeholder Impact
- The transaction has a minimal impact on stakeholders as it is a routine sale to cover tax obligations.
Key Dates
| Date | Description |
|---|---|
| 05/01/2025 | Date of transaction: Margaret McCandless disposed of shares. |
| 05/02/2025 | Date of signature on the Form 4 filing. |
Keywords
Local Bounti Corporation, LOCL, Form 4, Margaret McCandless, insider trading, stock sale, restricted stock units, tax liability, General Counsel, Secretary
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