Form 4: Magnite CFO Brian Gephart Reports Share Forfeiture for Tax Obligations
SEC Form 4 Filing
Brian Gephart, Chief Accounting Officer of Magnite, Inc., reports the forfeiture of shares to cover tax withholding obligations related to vesting restricted stock units.
Summary
- On February 15, 2025, Brian Gephart, Chief Accounting Officer of Magnite, Inc., forfeited 6,749 shares of common stock to cover tax withholding obligations.
- The forfeiture was non-discretionary and mandated by Magnite.
- Following the transaction, Gephart directly owns 139,159 shares of Magnite common stock.
Sentiment
Score: 5
Explanation: This is a neutral event related to standard tax procedures for vested stock; it doesn't inherently indicate positive or negative sentiment.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates a standard process for handling tax obligations related to equity compensation.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a standard procedure for handling tax obligations related to executive compensation.
Key Dates
| Date | Description |
|---|---|
| 02/15/2025 | Date of share forfeiture transaction |
| 02/19/2025 | Date of signature on the Form 4 filing |
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