Form 4: Local Bounti Executive Chairman Reports Stock Transaction
Insider Transaction Report
Local Bounti's Executive Chairman, Craig M. Hurlbert, reported a disposition of 34,007 common shares related to tax obligations from restricted stock unit settlement.
Summary
- Craig M. Hurlbert, Executive Chairman and Director of Local Bounti Corporation, reported a transaction on October 1, 2025.
- The transaction involved the disposition of 34,007 shares of Common Stock.
- These shares were withheld by the company to cover withholding tax liability incurred upon the settlement of previously awarded restricted stock units.
- The price per share for the disposed stock was $2.95.
- Following this transaction, Hurlbert directly beneficially owns 914,803 shares of Common Stock.
- Additionally, 1,177,386 shares are indirectly beneficially owned through Wheat Wind Farms, LLC, where Hurlbert serves as Member-Manager, though he disclaims beneficial ownership except for his pecuniary interest.
Sentiment
Score: 5
Explanation: This is a neutral, routine insider transaction for tax purposes, not indicative of positive or negative company performance or outlook.
Future Outlook
NA
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
NA
Stakeholder Impact
- Shareholders may note the updated direct and indirect beneficial ownership levels of a key executive.
Key Dates
| Date | Description |
|---|---|
| 10/01/2025 | Date of earliest transaction (disposition of shares) |
| 10/03/2025 | Signature date of the reporting person's attorney-in-fact |
Recommendation
holdThe Form 4 filing details a routine insider transaction where shares were withheld to cover tax obligations from restricted stock unit settlement. This is a common, non-discretionary event and does not provide new information to warrant a change in investment thesis for Local Bounti Corporation.
Keywords
Local Bounti Corporation, LOCL, Craig M. Hurlbert, Form 4, insider transaction, stock disposition, restricted stock units, tax withholding
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