Form 4: NewLake Capital Partners CEO Anthony Coniglio Reports Stock Transactions Following PSU Vesting
SEC Form 4 Filing
CEO Anthony Coniglio reports acquisition and disposal of NewLake Capital Partners stock related to the vesting of performance-based restricted stock units (PSUs) and associated tax obligations.
Summary
- On January 17, 2025, NewLake Capital Partners CEO Anthony Coniglio acquired 15,518 shares of common stock upon the vesting of performance-based restricted stock units (PSUs).
- These PSUs vested after the Compensation Committee certified achievement of performance hurdles for the period from January 1, 2022, to December 31, 2024.
- Concurrently, 8,947 shares were withheld for the payment of taxes related to the PSU vesting at a price of $16.18 per share.
- Additionally, dividend equivalent rights associated with the PSUs were settled in cash, resulting in the acquisition and disposal of 4,814.6 shares, calculated based on the $16.18 closing price on January 17, 2025.
- Following these transactions, Coniglio directly owns 584,731 shares of NewLake Capital Partners common stock and 4,814.6 dividend equivalent rights.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing stock transactions related to executive compensation; it doesn't inherently convey positive or negative sentiment.
Industry Context
Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in the CEO's holdings.
- Employees may be impacted if they also hold PSUs.
Key Dates
| Date | Description |
|---|---|
| 01/01/2022 | Start date of the measurement period for the performance restricted stock units (PSUs). |
| 12/31/2024 | End date of the measurement period for the performance restricted stock units (PSUs). |
| 01/17/2025 | Date of PSU vesting, stock acquisition, tax withholding, and dividend equivalent rights settlement. |
| 01/22/2025 | Date of Form 4 filing. |
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