Form 4: Magnite Inc. Executive Adam Lee Soroca Reports Stock Forfeiture to Cover Tax Obligations
SEC Form 4 Filing
Adam Lee Soroca, Chief Product Officer of Magnite, Inc., reported the forfeiture of 6,744 shares of common stock to cover tax withholding obligations on August 15, 2024.
Summary
- On August 15, 2024, Adam Lee Soroca, the Chief Product Officer of Magnite, Inc. (MGNI), reported a transaction involving the forfeiture of company stock.
- The transaction involved 6,744 shares of common stock.
- The shares were forfeited to cover tax withholding obligations associated with the vesting of restricted stock units.
- The price per share was $12.51.
- Following the transaction, Soroca directly owns 443,911 shares of Magnite, Inc.
Sentiment
Score: 5
Explanation: This is a neutral event related to standard executive compensation practices and tax obligations. It doesn't indicate positive or negative sentiment regarding the company's performance.
Industry Context
This Form 4 filing is a routine disclosure related to executive compensation and tax obligations, common in publicly traded companies. It doesn't necessarily reflect a change in the company's overall financial health or strategic direction.
Stakeholder Impact
- The transaction has a minimal direct impact on shareholders, as it relates to tax obligations of an executive.
Key Dates
| Date | Description |
|---|---|
| 08/15/2024 | Date of stock forfeiture transaction |
| 08/16/2024 | Date of signature on the report |
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