Form 4: MP Materials Corp. Executive Elliot Dean Hoops Reports Stock Transactions
SEC Form 4 Filing
Elliot Dean Hoops, General Counsel and Secretary of MP Materials Corp., reported gifting shares to the Hoops Family Trust and a transaction involving tax withholding.
Summary
- Elliot Dean Hoops, General Counsel and Secretary of MP Materials Corp., filed a Form 4 detailing changes in beneficial ownership.
- On May 17, 2024, 2,218 shares of common stock were disposed of to cover tax obligations at a price of $18.25 per share.
- On May 20, 2024, Mr. Hoops gifted 6,889 shares to the Hoops Family Trust.
- Following these transactions, Mr. Hoops directly owns 71,228 shares and indirectly owns 38,114 shares through the Hoops Family Trust, and 1,000 shares through his spouse.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing stock transactions. It doesn't inherently convey positive or negative sentiment.
Industry Context
Form 4 filings are standard practice for corporate insiders to report transactions in their company's stock, providing transparency to investors.
Related Party Transactions
- The gift of shares to the Hoops Family Trust constitutes a related party transaction.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in ownership, but the overall effect is likely minimal.
Key Dates
| Date | Description |
|---|---|
| 05/17/2024 | Disposition of 2,218 shares for tax obligations. |
| 05/20/2024 | Gift of 6,889 shares to the Hoops Family Trust. |
| 05/20/2024 | Date of signature for the Form 4 filing. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.