Form 4: One Stop Systems CEO Michael Knowles Reports Stock Forfeiture for Tax Withholdings
SEC Form 4 Filing
CEO Michael Knowles forfeited 17,525 shares of One Stop Systems common stock to cover tax withholdings upon conversion of restricted stock units.
Summary
- On December 5, 2020, Michael Knowles, CEO of One Stop Systems, Inc., forfeited 17,525 shares of common stock.
- The forfeiture was related to the conversion of 50,000 vested restricted stock units into shares of common stock.
- The shares were forfeited to cover tax withholdings at a price of $2.41 per share.
- Following the transaction, Knowles beneficially owns 477,530 shares, including 381,450 unvested restricted stock units.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing a routine stock transaction, indicating a neutral sentiment.
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 the total number of outstanding shares.
Key Dates
| Date | Description |
|---|---|
| 12/05/2020 | Date of stock forfeiture transaction |
| 06/06/2023 | Date of original Form 4 filing for the restricted stock unit grant |
| 12/05/2024 | Date of earliest transaction |
| 12/30/2024 | Date of signature on the Form 4 |
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