Form 4: Magnachip Semiconductor Officer Yang Jinseok Reports Share Withholdings for Tax Obligations
SEC Form 4 Filing
Yang Jinseok, an officer at Magnachip Semiconductor, reported the withholding of common stock by the issuer to cover tax obligations related to vesting shares.
Summary
- On December 31, 2024, Yang Jinseok, Acting Co-General Manager of Mixed-Signal Solutions at Magnachip Semiconductor, reported transactions involving the withholding of common stock by the company to cover tax obligations.
- A total of 1,577 shares were withheld at a price of $4.02 per share related to the vesting of 3,334 shares awarded on March 17, 2022.
- Additionally, 2,444 shares were withheld at $4.02 per share due to the vesting of 5,167 shares awarded on March 23, 2023.
- Finally, 4,729 shares were withheld at $4.02 per share related to the vesting of 10,000 shares awarded on June 1, 2024.
- Following these transactions, Yang Jinseok beneficially owns 66,909 shares of Magnachip Semiconductor common stock.
Sentiment
Score: 5
Explanation: This is a neutral, routine regulatory filing. It doesn't indicate positive or negative sentiment, just standard procedure.
Industry Context
Form 4 filings are a routine part of compliance for publicly traded companies, providing transparency into the transactions of company insiders. This filing indicates standard practice of withholding shares to cover tax obligations upon vesting.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect standard tax withholding practices.
Key Dates
| Date | Description |
|---|---|
| March 17, 2022 | Original award date of 3,334 shares of common stock, part of which led to tax withholding on 12/31/2024. |
| March 23, 2023 | Original award date of 5,167 shares of common stock, part of which led to tax withholding on 12/31/2024. |
| June 1, 2024 | Original award date of 10,000 shares of common stock, part of which led to tax withholding on 12/31/2024. |
| December 31, 2024 | Date of the reported transactions involving share withholding for tax obligations. |
| 01/03/2025 | Date of signature on the Form 4 filing. |
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