Form 4: LSI Industries CEO James Clark Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
LSI Industries CEO James Clark sold a portion of his common shares to cover tax obligations related to vesting restricted stock units and performance share units.
Summary
- James Anthony Clark, CEO and President of LSI Industries Inc. (LYTS), reported the disposition of common shares on August 19 and 20, 2024.
- The sales were executed to cover tax obligations arising from the vesting of restricted stock units and performance share units.
- On August 19, 2024, 33,331 shares were sold at a price of $14.57 per share.
- On August 20, 2024, 30,585 shares were sold at a price of $14.24 per share.
- Following these transactions, Clark directly owns 330,514 common shares and indirectly owns 185,075 common shares through the LSI Industries Inc. Non-Qualified Deferral Compensation Plan.
- Clark also holds options to buy 576,271 common shares at exercise prices of $4.40 and $6.80, with various vesting schedules and conditions.
Sentiment
Score: 5
Explanation: The document reflects a routine transaction (stock sale for tax purposes) by a company executive, which is neither particularly positive nor negative.
Industry Context
Executive stock sales are a common occurrence, often related to compensation and tax planning. The impact on the stock price depends on the size of the sale relative to the trading volume and investor sentiment.
Stakeholder Impact
- The stock sale could have a minor impact on shareholders if it creates downward pressure on the stock price, although the impact is likely to be minimal given the stated reason for the sale.
Key Dates
| Date | Description |
|---|---|
| 10/15/2018 | Employment Agreement between James Clark and LSI Industries |
| 11/01/2021 | Initial vesting date for 250,000 shares of stock options |
| 08/19/2024 | Sale of 33,331 common shares at $14.57 |
| 08/20/2024 | Sale of 30,585 common shares at $14.24 |
| 08/21/2024 | Date of Form 4 filing |
| 08/19/2030 | Expiration date for options to buy 76,271 common shares |
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