Form 4: Magnite Inc. Executive Brian Gephart Reports Share Forfeiture for Tax Obligations
SEC Form 4 Filing
Brian Gephart, Chief Accounting Officer of Magnite Inc., reported the forfeiture of 2,031 shares of common stock to cover tax withholding obligations.
Summary
- On August 15, 2024, Brian Gephart, the Chief Accounting Officer of Magnite Inc., reported a transaction involving the forfeiture of company shares.
- The transaction involved 2,031 shares of common stock.
- These shares were forfeited to cover tax withholding obligations associated with the vesting of restricted stock units, as mandated by Magnite Inc.
- Following the transaction, Gephart directly owns 119,138 shares of Magnite Inc. common stock.
Sentiment
Score: 5
Explanation: The document describes a routine transaction related to executive compensation and tax obligations, which is neither particularly positive nor negative.
Industry Context
This type of transaction, where shares are forfeited to cover tax obligations, is a common practice in companies that issue stock-based compensation.
Stakeholder Impact
- The transaction has a minor impact on the total number of outstanding shares.
Key Dates
| Date | Description |
|---|---|
| 08/15/2024 | Date of the share forfeiture transaction. |
| 08/16/2024 | Date of signature for the Form 4 filing. |
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