Form 4: Openlane Inc. Executive Scott A. Anderson Reports Stock Transactions
SEC Form 4 Filing
Scott A. Anderson, Chief Accounting Officer of Openlane Inc., reports the vesting and conversion of restricted stock units and shares withheld for tax obligations.
Summary
- On May 7, 2024, Scott A. Anderson, Chief Accounting Officer of Openlane Inc., reported transactions involving the company's common stock.
- 542 restricted stock units vested and were converted into common stock.
- The price per share at conversion was $0.
- 142 shares were withheld by the company to satisfy tax obligations at a price of $17.88 per share.
- Following these transactions, Anderson directly owns 32,604.9914 shares of Openlane Inc. common stock.
Sentiment
Score: 5
Explanation: This is a neutral report on stock transactions, reflecting standard executive compensation practices.
Industry Context
This Form 4 filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies.
Stakeholder Impact
- The vesting of stock options and subsequent sale of shares to cover taxes may have a minor dilutive effect on existing shareholders.
Key Dates
| Date | Description |
|---|---|
| 05/07/2022 | One-third of the restricted stock units vested. |
| 05/07/2023 | One-third of the restricted stock units vested. |
| 05/07/2024 | Restricted stock units vested and converted to common stock; tax withholding occurred. |
| 05/08/2024 | Date of Form 4 signature. |
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