Form 4: Ollie's Bargain Outlet SVP, CIO Larry Kraus Reports Stock Transactions
SEC Form 4
SVP, CIO of Ollie's Bargain Outlet Holdings, Inc., Larry Kraus, reports multiple transactions involving the vesting and subsequent tax withholding of restricted stock units (RSUs).
Summary
- Larry Kraus, SVP, CIO of Ollie's Bargain Outlet Holdings, Inc., filed a Form 4 detailing changes in beneficial ownership.
- The transactions involve the vesting of restricted stock units (RSUs) and the subsequent withholding of shares to cover tax liabilities.
- On March 22, 2024, 457 RSUs vested, converting into common stock, and 215 shares were withheld for tax obligations at a price of $78.17.
- On March 23, 2024, 862 RSUs vested, converting into common stock, and 406 shares were withheld for tax obligations at a price of $78.17.
- On March 24, 2024, 847 RSUs vested, converting into common stock, and 346 shares were withheld for tax obligations at a price of $78.17.
- On March 25, 2024, 1,194 RSUs vested, converting into common stock, and 488 shares were withheld for tax obligations at a price of $79.36.
- Following these transactions, Kraus directly owns 4,833 shares of common stock.
- The reported transactions were executed pursuant to Section 16b-3(e) related to tax liability coverage.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing related to stock transactions, so the sentiment is neutral.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders and their holdings in the company's stock.
Comparison to Industry Standards
- Monitoring insider transactions is a standard practice in corporate governance, ensuring compliance with SEC regulations.
- Companies like Dollar General (DG) and Big Lots (BIG) also have executives who regularly file Form 4s related to stock options and RSU vesting.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect routine compensation-related activities.
Key Dates
| Date | Description |
|---|---|
| 03/22/2021 | Initial grant date for 1,831 RSUs vesting in 25% installments annually. |
| 03/22/2022 | First vesting date for 458 RSUs from the 03/22/2021 grant. |
| 03/23/2023 | Initial grant date for 3,449 RSUs vesting in 25% installments annually. |
| 03/24/2020 | Initial grant date for 3,390 RSUs vesting in 25% installments annually. |
| 03/25/2022 | Initial grant date for 4,773 RSUs vesting in 25% installments annually. |
| 03/22/2023 | Second vesting date for 458 RSUs from the 03/22/2021 grant. |
| 03/24/2023 | Third vesting date for 848 RSUs from the 03/24/2020 grant. |
| 03/25/2023 | First vesting date for 1,194 RSUs from the 03/25/2022 grant. |
| 03/22/2024 | Vesting of 457 RSUs and withholding of 215 shares for tax obligations. |
| 03/23/2024 | Vesting of 862 RSUs and withholding of 406 shares for tax obligations. |
| 03/24/2024 | Vesting of 847 RSUs and withholding of 346 shares for tax obligations. |
| 03/25/2024 | Vesting of 1,194 RSUs and withholding of 488 shares for tax obligations. |
| 03/26/2024 | Date of Form 4 filing. |
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