Form 4: One Stop Systems CFO Forfeits Shares to Cover Tax Withholdings
SEC Form 4 Filing
John W. Morrison Jr., CFO of One Stop Systems, Inc., forfeited 4,059 shares of common stock to cover tax obligations upon the conversion of restricted stock units.
Summary
- On August 20, 2024, John W. Morrison Jr., the CFO of One Stop Systems, Inc., forfeited 4,059 shares of common stock.
- The forfeiture was to cover tax withholdings related to the conversion of 10,667 vested restricted stock units into common stock.
- The shares were forfeited at a price of $2.16 per share.
- Following the transaction, Morrison directly owns 311,342 shares, which includes 144,634 unvested restricted stock units.
Sentiment
Score: 5
Explanation: This is a neutral event related to standard executive compensation practices. It doesn't indicate positive or negative sentiment about the company's performance.
Industry Context
This is a routine transaction related to executive compensation and tax obligations. It is common for executives to forfeit shares to cover taxes when stock options or restricted stock units vest.
Key Dates
| Date | Description |
|---|---|
| 02/07/2022 | Date of original Form 4 filing reporting the grant of restricted stock units. |
| 08/20/2024 | Date of transaction: forfeiture of shares to cover tax withholdings. |
| 08/21/2024 | Date of signature on the Form 4 filing. |
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