Form 4: Openlane Executive Tobin P. Richer Reports Stock Transactions
SEC Form 4 Filing
EVP Tobin P. Richer reports the vesting of restricted stock units and subsequent tax withholding.
Summary
- Tobin P. Richer, EVP Marketing & Communications at OPENLANE, Inc., reported transactions involving common stock and restricted stock units on May 9, 2024.
- 6,667 restricted stock units vested and were converted into common stock.
- The company withheld 1,962 shares to satisfy tax withholding requirements at a price of $17.71 per share.
- Following these transactions, Richer directly owns 15,273 shares of common stock and 6,667 restricted stock units.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing reflecting standard executive compensation practices; therefore, the sentiment is neutral.
Future Outlook
The remaining restricted stock units are scheduled to vest on May 9, 2025, assuming continued employment.
Industry Context
This filing is a routine disclosure of stock transactions by a company executive, which is common practice and required by the SEC to ensure transparency and prevent insider trading.
Stakeholder Impact
- The vesting of restricted stock units and subsequent sale of shares to cover taxes 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 | Date of transaction: 6,667 restricted stock units vested and converted to common stock; one-third of the restricted stock units vested. |
| 05/09/2025 | Remaining one-third of the restricted stock units are scheduled to vest. |
| 05/13/2024 | Date of signature for the report. |
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.