Form 4: Glatfelter CEO Thomas Fahnemann Reports Stock Transactions
SEC Form 4 Filing
CEO Thomas Fahnemann reports the vesting of restricted stock units and subsequent tax withholding, impacting his beneficial ownership of Glatfelter Corp stock.
Summary
- On February 24, 2024, Thomas Fahnemann, CEO of Glatfelter Corp, reported transactions involving the company's stock.
- 80,000 Restricted Stock Units (RSUs) vested.
- Following the vesting, 22,974 shares were withheld to satisfy tax obligations at a price of $2.01 per share.
- After these transactions, Fahnemann beneficially owns 670,026 shares of Glatfelter Corp.
- The vesting RSU grant on 2/24/2024 is the first one-third vesting of the SET RSU 2/24/2023 Grant.
- The final one-third vests, and all restrictions lapse, on 2/24/2026.
Sentiment
Score: 5
Explanation: The document is a routine disclosure of stock transactions by a company executive, with no inherently positive or negative implications.
Future Outlook
The final one-third of the SET RSU 2/24/2023 Grant vests, and all restrictions lapse, on 2/24/2026.
Industry Context
Form 4 filings are standard practice for company insiders to report transactions in their company's stock, providing transparency to investors.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in the CEO's holdings.
- Employees may be interested in the vesting schedule of RSUs as part of their compensation packages.
Key Dates
| Date | Description |
|---|---|
| 02/24/2023 | Date of the SET RSU grant. |
| 02/23/2024 | Closing price of the previous business day Friday used to determine the value of the shares. |
| 02/24/2024 | Date of RSU vesting and tax withholding. |
| 02/24/2026 | Date when the final one-third of the SET RSU 2/24/2023 Grant vests, and all restrictions lapse. |
| 02/27/2024 | Date of signature by Attorney-in-fact. |
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