Form 4: Lovesac CEO Shawn Nelson Reports Stock Transactions Following RSU Vesting
SEC Form 4 Filing
Shawn Nelson, CEO of Lovesac, reports the vesting of restricted stock units and subsequent tax withholding.
Summary
- On June 7, 2024, Shawn Nelson, CEO of Lovesac, acquired 1,458 shares of common stock upon the vesting of the third tranche of time-based restricted stock units (RSUs) granted on June 7, 2021.
- 661 shares were withheld to cover Nelson's tax liability related to the RSU settlement at a price of $26.36 per share.
- Nelson also forfeited 1,458 performance-based RSUs granted on June 7, 2021.
- Following these transactions, Nelson directly owns 184,843 shares and indirectly owns 52,094 shares through The LPDV Holding Trust.
Sentiment
Score: 5
Explanation: This is a neutral filing detailing routine stock transactions related to executive compensation.
Negatives
- 1,458 performance-based RSUs were forfeited and cancelled.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies.
Stakeholder Impact
- The transactions have a minor impact on the overall share structure and are primarily relevant to the reporting person's holdings.
Key Dates
| Date | Description |
|---|---|
| October 1, 2018 | Date of The LPDV Holding Trust |
| June 7, 2021 | Date of grant for time-based and performance-based restricted stock units |
| June 7, 2024 | Date of RSU vesting, tax withholding, and forfeiture of performance-based RSUs |
| June 11, 2024 | Date of signature on the Form 4 filing |
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