Form 4: Magnachip Semiconductor Director Kim Young-Joon Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Director and CEO Kim Young-Joon reports the withholding of shares by Magnachip Semiconductor to cover tax obligations upon vesting of common stock awards.
Summary
- On December 31, 2024, Magnachip Semiconductor withheld shares of common stock from Director and CEO Kim Young-Joon to cover tax obligations.
- 5,017 shares were withheld at a price of $4.02 to satisfy tax obligations from the vesting of 14,334 shares awarded on February 28, 2022.
- An additional 17,632 shares were withheld at $4.02 to cover taxes from the vesting of 50,375 shares awarded on February 16, 2023.
- Finally, 15,517 shares were withheld at $4.02 to satisfy tax obligations from the vesting of 44,333 shares awarded on June 1, 2024.
- Following these transactions, Kim Young-Joon directly owns 619,757 shares of Magnachip Semiconductor common stock.
Sentiment
Score: 5
Explanation: This is a neutral report on stock transactions related to tax obligations, with no inherent positive or negative sentiment.
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 total number of outstanding shares.
Key Dates
| Date | Description |
|---|---|
| February 28, 2022 | Original award date of 14,334 shares of common stock. |
| February 16, 2023 | Original award date of 50,375 shares of common stock. |
| June 1, 2024 | Original award date of 44,333 shares of common stock. |
| December 31, 2024 | Date of stock withholding transactions. |
| January 03, 2025 | Date of report filing. |
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