Form 4: Magnachip Semiconductor Officer Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Seunghoon Lee, an officer at Magnachip Semiconductor, sold shares to cover tax obligations related to vesting stock awards.
Summary
- On December 31, 2024, Seunghoon Lee, Acting Co-General Manager of Power Analog Solutions at Magnachip Semiconductor, disposed of shares of common stock to cover tax obligations.
- The transactions involved the withholding of 1,645 shares, 2,877 shares, and 4,932 shares at a price of $4.02 per share.
- These shares were withheld by the issuer to satisfy tax obligations incurred upon the vesting of stock awards granted on March 17, 2022, March 23, 2023, and June 1, 2024, respectively.
- Following these transactions, Lee directly owns 102,379 shares of Magnachip Semiconductor common stock.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing related to insider transactions for tax purposes, indicating a neutral sentiment.
Industry Context
This Form 4 filing is a routine disclosure related to insider transactions. It reflects standard practice for executives to manage their tax obligations related to equity compensation.
Stakeholder Impact
- The transaction has a minimal impact on stakeholders as it is a routine sale of shares to cover tax obligations.
Key Dates
| Date | Description |
|---|---|
| March 17, 2022 | Date of original award of 3,334 shares of common stock, part of which vested on 12/31/2024. |
| March 23, 2023 | Date of original award of 5,833 shares of common stock, part of which vested on 12/31/2024. |
| June 1, 2024 | Date of original award of 10,000 shares of common stock, part of which vested on 12/31/2024. |
| 12/31/2024 | Date of transaction: shares withheld to cover tax obligations. |
| 01/03/2025 | Date of signature on the Form 4 filing. |
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