Form 4: Netscout Systems COO Michael Szabados Reports Stock Transactions
SEC Form 4 Filing
Michael Szabados, Chief Operating Officer of Netscout Systems, reports the vesting of restricted stock units and subsequent tax withholding, resulting in changes to his beneficial ownership of company stock.
Summary
- Michael Szabados, the Chief Operating Officer of Netscout Systems, reported transactions involving restricted stock units and common stock.
- On October 26, 2023, 7,875 shares of common stock were acquired upon the vesting of restricted stock units, and 3,501 shares were withheld to cover tax obligations at a price of $22.27.
- On June 3, 2024, 8,750 shares of common stock were acquired upon vesting, with 2,569 shares withheld for taxes at a price of $20.54.
- On June 4, 2024, 7,875 shares of common stock were acquired upon vesting, and 2,320 shares were withheld for taxes at a price of $19.04.
- These transactions altered Szabados' direct ownership of Netscout Systems common stock.
- The reporting person also had intervening sales of Common Stock as reported in the Forms 4 filed on December 11, 2023, January 31, 2024, and May 16, 2024.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing detailing stock transactions. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It provides transparency to investors regarding the holdings and transactions of company insiders.
Comparison to Industry Standards
- Executive compensation packages often include restricted stock units that vest over time, aligning executive interests with shareholder value.
- Tax withholding upon vesting is a standard practice to cover income tax obligations.
- Similar filings are made by executives at comparable companies like Fortinet, Palo Alto Networks, and Cisco, detailing their stock transactions.
Stakeholder Impact
- Shareholders gain insight into the stock transactions of a key executive, which can inform their investment decisions.
- Employees may be interested in the executive's stock ownership as an indicator of alignment with company performance.
Key Dates
| Date | Description |
|---|---|
| 10/26/2023 | Vesting of 7,875 restricted stock units and withholding of 3,501 shares for taxes. |
| 12/11/2023 | Intervening sales of Common Stock as reported in the Forms 4. |
| 01/31/2024 | Intervening sales of Common Stock as reported in the Forms 4. |
| 05/16/2024 | Intervening sales of Common Stock as reported in the Forms 4. |
| 06/03/2024 | Vesting of 8,750 restricted stock units and withholding of 2,569 shares for taxes. |
| 06/04/2024 | Vesting of 7,875 restricted stock units and withholding of 2,320 shares for taxes. |
| 06/05/2024 | Date of signature for the Form 4 filing. |
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