Form 4: One Stop Systems CEO Michael Knowles Reports Stock Forfeiture for Tax Withholdings
SEC Form 4 Filing
CEO Michael Knowles forfeited 38,050 shares of One Stop Systems common stock to cover tax withholdings upon conversion of restricted stock units.
Summary
- On June 17, 2024, Michael Knowles, CEO of One Stop Systems, Inc., forfeited 38,050 shares of common stock.
- The forfeiture was to cover tax withholdings related to the conversion of 100,000 vested Restricted Stock Units (RSUs) into shares of common stock.
- The price per share used for the tax withholding calculation was $2.18.
- Following the transaction, Knowles directly owns 363,080 shares of One Stop Systems, Inc.
- This includes 300,000 unvested restricted stock units subject to vesting conditions.
Sentiment
Score: 5
Explanation: This is a neutral event related to tax obligations and stock compensation. It doesn't inherently indicate positive or negative sentiment.
Industry Context
This is a routine filing related to executive compensation and tax obligations. It doesn't necessarily indicate a strategic shift for One Stop Systems but provides transparency into executive stock ownership.
Key Dates
| Date | Description |
|---|---|
| 06/06/2023 | Date of original Form 4 filing reporting the grant of Restricted Stock Units. |
| 06/17/2024 | Date of the transaction where shares were forfeited to cover tax withholdings. |
| 06/18/2024 | Date of signature on the Form 4 filing. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.