Form 4: ONTO Innovation SVP, Customer Success, Srinivas Vedula, Reports Stock Disposal for Tax Obligations
SEC Form 4 Filing
Srinivas Vedula, SVP of Customer Success at ONTO Innovation Inc., disposed of 302 shares of common stock on April 1, 2024, to cover tax withholding obligations related to vesting restricted stock units.
Summary
- On April 1, 2024, Srinivas Vedula, SVP of Customer Success at ONTO Innovation Inc., disposed of 302 shares of common stock.
- The disposal was executed to satisfy tax withholding obligations associated with the vesting of restricted stock units.
- The transaction was a direct disposal at a price of $185.3 per share.
- Following the transaction, Vedula directly owns 18,919 shares of ONTO Innovation Inc. common stock.
Sentiment
Score: 5
Explanation: Neutral sentiment as the document reports a routine transaction related to tax obligations.
Industry Context
This is a routine Form 4 filing, reflecting a common practice where company executives dispose of shares to cover tax obligations arising from the vesting of stock-based compensation.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a routine disposal of shares for tax purposes.
Key Dates
| Date | Description |
|---|---|
| 04/01/2024 | Date of stock disposal transaction |
| 04/03/2024 | Date of Form 4 signature |
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