Form 4: Glatfelter Corp Executive Shettigar Ramesh Reports Stock Transactions
SEC Form 4 Filing
Senior VP, CFO & Treasurer of Glatfelter Corp, Ramesh Shettigar, reports the vesting of restricted stock units and subsequent share withholding for tax obligations.
Summary
- On February 24, 2024, Ramesh Shettigar, Senior VP, CFO & Treasurer of Glatfelter Corp, reported transactions involving the company's common stock.
- 13,333 restricted stock units vested, and the equivalent number of shares were acquired.
- 5,011 shares were withheld to satisfy tax obligations at a price of $2.01 per share.
- Following these transactions, Shettigar directly owns 41,951 shares of Glatfelter Corp.
- The reported transactions also involved derivative securities, specifically restricted stock units.
- The RSU grant vesting on 2/24/2024 is the first one-third vesting of the SET RSU 2/24/2023 Grant, with the final one-third vesting on 2/24/2026.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions, and does not inherently convey positive or negative sentiment.
Industry Context
This filing is a routine disclosure of insider transactions, which are common for executives receiving stock-based compensation. It provides transparency into the executive's holdings and transactions in the company's stock.
Stakeholder Impact
- The transaction has a minor impact on shareholders as it reflects insider activity related to compensation.
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 the reported transactions: vesting of RSUs and share withholding for taxes. |
| 02/24/2026 | Date of the final one-third vesting of the SET RSU 2/24/2023 Grant. |
| 02/27/2024 | Date of signature of the report. |
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