Form 4: Monolithic Power Systems Executive Sells Shares to Cover Taxes
SEC Form 4
Maurice Sciammas, EVP of WW Sales & Marketing at Monolithic Power Systems, sold 859 shares of common stock on August 8, 2024, to cover taxes upon the vesting of restricted stock units.
Summary
- On August 8, 2024, Maurice Sciammas, the EVP of WW Sales & Marketing at Monolithic Power Systems Inc. (MPWR), sold 859 shares of common stock.
- The sale was executed at a price of $778.39 per share.
- The transaction was conducted to cover taxes associated with the vesting of restricted stock units, as mandated by the company's equity incentive plan.
- Following the transaction, Sciammas directly owns 114,812 shares of Monolithic Power Systems Inc.
- Sciammas also indirectly owns shares through various trusts, including the Sciammas Family Trust (32,064 shares), By Sciammas Trust 2020 (23,015 shares), Various Sciammas GRATs (20,206 shares), Christina Sciammas Trust FBO Oski Crew (13,424 shares), Maurice Sciammas Trust FBO Oski Crew (13,424 shares), Clement Sciammas Family 2021 Trust (5,000 shares), Rosalind Sciammas Family 2021 Trust (2,000 shares), Peter Rafferty and Eric Toothill 2021Trust (2,000 shares), The Joseph Roger Sciammas 2020 Irrevocable Trust (1,699 shares), The Chloe Liliane Sciammas 2020 Irrevocable Trust (1,699 shares), and The Patrick Francis Sciammas 2020 Irrevocable Trust (1,699 shares).
Sentiment
Score: 5
Explanation: The sentiment is neutral as the transaction is a routine sale of shares to cover tax obligations, with no indication of positive or negative implications for the company's performance.
Industry Context
Executive stock sales are a common occurrence in publicly traded companies, often related to compensation and tax obligations. The sale itself doesn't necessarily indicate a negative outlook for the company, but it's a transaction investors monitor for potential insights into executive sentiment.
Stakeholder Impact
- The sale has a minimal impact on shareholders as it's a small percentage of the total outstanding shares.
Key Dates
| Date | Description |
|---|---|
| 08/08/2024 | Date of stock sale transaction |
| 08/12/2024 | Date of signature for the Form 4 filing |
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