Form 4: One Stop Systems CFO John Morrison Jr. Reports Stock Forfeiture for Tax Withholdings
SEC Form 4 Filing
John Morrison Jr., CFO of One Stop Systems, Inc., reports the forfeiture of 5,961 shares of common stock to cover tax withholdings upon conversion of restricted stock units.
Summary
- On September 23, 2024, John Morrison Jr., the CFO of One Stop Systems, Inc. (OSS), reported a transaction involving the forfeiture of 5,961 shares of common stock.
- The forfeiture was to cover tax withholdings related to the conversion of 15,667 vested restricted stock units into shares of common stock.
- The shares were forfeited at a price of $2.19 per share.
- Following the transaction, Morrison directly owns 305,381 shares of OSS, which includes 128,967 unvested restricted stock units.
Sentiment
Score: 5
Explanation: This is a neutral event. It reflects a standard tax obligation related to stock compensation.
Industry Context
This is a routine SEC filing related to insider transactions. It is common for company executives to forfeit shares to cover tax obligations when converting restricted stock units.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a standard procedure for covering tax obligations.
Key Dates
| Date | Description |
|---|---|
| 03/20/2023 | Date of Form 4 filing reporting the grant of restricted stock units. |
| 09/23/2024 | Date of the transaction involving the forfeiture of shares. |
| 09/25/2024 | Date of signature on the Form 4 filing. |
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