Form 4: Openlane Executive Charles S. Coleman Reports Stock Transactions
SEC Form 4
Executive Vice President, CLO, and Secretary of Openlane, Inc., Charles S. Coleman, reports the vesting of restricted stock units and subsequent tax withholding.
Summary
- Charles S. Coleman, EVP, CLO & Secretary of Openlane, Inc., filed a Form 4 detailing changes in beneficial ownership.
- On May 9, 2024, 15,000 restricted stock units vested and were converted into common stock.
- The company withheld 4,276 shares to satisfy tax withholding requirements at a price of $17.71 per share.
- Following these transactions, Coleman directly owns 38,302.483 shares of common stock.
- Coleman also holds 15,000 restricted stock units that are subject to future vesting requirements.
Sentiment
Score: 5
Explanation: This is a routine filing related to executive compensation and doesn't indicate any significant positive or negative sentiment.
Future Outlook
The remaining restricted stock units are scheduled to vest on May 9, 2025, assuming continued employment.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates the vesting of previously granted equity compensation.
Stakeholder Impact
- The vesting of restricted stock units may have a minor dilutive effect on existing shareholders.
Key Dates
| Date | Description |
|---|---|
| 05/09/2023 | One-third of the restricted stock units vested. |
| 05/09/2024 | 15,000 restricted stock units vested and were converted into common stock; one-third of the restricted stock units vested. |
| 05/09/2025 | The remaining one-third of these restricted stock units vest, assuming continued employment. |
| 05/13/2024 | Date of signature for the Form 4 filing. |
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