Form 4: Newmark Group CFO Michael Rispoli Reports Stock Transaction
SEC Form 4 Filing
Michael J. Rispoli, CFO of Newmark Group, Inc., reports the vesting of restricted stock units and subsequent share withholding for taxes.
Summary
- On March 15, 2024, Newmark Group's CFO, Michael J. Rispoli, reported a transaction involving Class A Common Stock.
- The transaction was related to the vesting of 21,438 Restricted Stock Units (RSUs) granted under his 2022 Employment Agreement.
- Of the vested RSUs, 9,980 shares were surrendered to the company for tax withholding purposes at a price of $10.57 per share.
- The remaining 11,458 shares were issued to Rispoli.
- Following the transaction, Rispoli beneficially owns 758,650 shares of Class A Common Stock.
- This includes shares held directly and those represented by RSUs vesting over a seven-year schedule.
Sentiment
Score: 5
Explanation: Neutral sentiment as it's a standard reporting of stock transactions related to executive compensation.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies.
Stakeholder Impact
- The transaction has a minor impact on shareholders as it involves the vesting of previously granted equity.
Key Dates
| Date | Description |
|---|---|
| 09/29/2022 | Date of the 2022 Employment Agreement and grant of restricted stock units. |
| 03/15/2024 | Date of the reported transaction: vesting of RSUs and share withholding for taxes. |
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