Form 4: Local Bounti Executive Chairman Reports Routine Stock Disposition for Tax Purposes
Insider Transaction Report
Local Bounti Corporation's Executive Chairman, Craig M. Hurlbert, reported the disposition of 40,786 shares of common stock on July 1, 2025, primarily for the payment of withholding tax liabilities.
Summary
- Craig M. Hurlbert, Executive Chairman and Director of Local Bounti Corporation (LOCL), reported a transaction involving the company's common stock.
- On July 1, 2025, 40,786 shares of common stock were disposed of at a price of $2.41 per share.
- These shares were withheld by Local Bounti Corporation to satisfy the withholding tax liability incurred upon the settlement of previously awarded restricted stock units.
- Following this transaction, Mr. Hurlbert directly beneficially owns 948,810 shares of common stock.
- An additional 1,177,386 shares are indirectly beneficially owned through Wheat Wind Farms, LLC, where Mr. Hurlbert serves as Member-Manager, though he disclaims beneficial ownership except to the extent of his pecuniary interest.
Sentiment
Score: 5
Explanation: The transaction is a routine administrative event (shares withheld for tax liability) and does not indicate a positive or negative sentiment regarding the company's performance or outlook.
Future Outlook
No forward-looking statements or guidance are provided in this Form 4 filing.
Industry Context
This is a routine insider transaction for tax purposes and does not provide specific industry context or trends.
Related Party Transactions
- Craig M. Hurlbert indirectly beneficially owns 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.
Stakeholder Impact
- The transaction is a routine administrative event for tax purposes and is unlikely to have a significant direct impact on shareholders, employees, customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| 07/01/2025 | Date of transaction where 40,786 shares were disposed of for tax withholding. |
| 07/02/2025 | Date the Form 4 was signed and filed. |
Keywords
Local Bounti Corporation, LOCL, Craig M. Hurlbert, SEC Form 4, Insider Transaction, Stock Disposition, Restricted Stock Units, Tax Withholding, Common Stock, Corporate Governance
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