4/A: Motorcar Parts of America CEO Corrects Shareholding Balance in Amended SEC Filing
SEC Form 4/A
Selwyn Joffe, President, CEO, and Chairman of Motorcar Parts of America, files an amended Form 4 to correct the balance of shares held, reporting transactions involving common stock and restricted stock units.
Summary
- Selwyn Joffe, the President, CEO, and Chairman of Motorcar Parts of America Inc. (MPAA), filed an amended Form 4 with the SEC.
- The filing corrects an error in a previous Form 4 regarding the balance of shares held.
- The reported transactions include acquisitions and disposals of common stock, as well as transactions involving restricted stock units.
- On June 18, 2024, Joffe acquired 6,683 shares of common stock and 9,023 shares earned under the 2021-2024 performance based units, and disposed of 3,046 shares at a price of $6.585.
- On June 20, 2024, Joffe acquired 12,687 shares of common stock and disposed of 4,998 shares at a price of $6.31.
- Following these transactions, Joffe beneficially owns 467,256 shares of common stock.
- The transactions also involve the vesting of restricted stock units, with 6,683 units vesting on June 18, 2024, and 12,687 units vesting on June 20, 2024.
- The restricted stock units vest in three equal installments annually from the grant date.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing related to stock transactions by an executive. It doesn't inherently convey positive or negative sentiment.
Industry Context
This filing is a routine disclosure related to insider transactions and is part of regulatory compliance for publicly traded companies. It provides transparency to investors regarding the trading activities of company executives.
Stakeholder Impact
- The filing provides transparency to shareholders regarding executive stock transactions.
- It ensures compliance with SEC regulations.
Key Dates
| Date | Description |
|---|---|
| 06/18/2024 | Acquisition of 6,683 shares of common stock, earning of 9,023 shares under performance based units, disposal of 3,046 shares at $6.585, and vesting of 6,683 restricted stock units. |
| 06/20/2024 | Acquisition of 12,687 shares of common stock, disposal of 4,998 shares at $6.31, and vesting of 12,687 restricted stock units. |
| 06/21/2024 | Date of original filing that was amended. |
| 07/19/2024 | Date of signature on the amended Form 4/A. |
| 12/31/2024 | Expiration date for 6,683 restricted stock units. |
| 12/31/2025 | Expiration date for 12,687 restricted stock units. |
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