Form 4: OptimizeRx Corp Executive Stephen Silvestro Reports Stock Transactions
SEC Form 4 Filing
Stephen Silvestro, Chief Commercial Officer of OptimizeRx Corp, reports the vesting of restricted stock units and subsequent tax withholding.
Summary
- On October 3, 2024, Stephen Silvestro, the Chief Commercial Officer of OptimizeRx Corp, had restricted stock units vest, converting into 6,649 shares of common stock.
- The vesting occurred as part of a pre-existing arrangement where restricted stock units convert into common stock on a one-for-one basis.
- Following the vesting, 2,617 shares were withheld by OptimizeRx Corp to satisfy Silvestro's tax withholding obligations at a price of $7.83 per share.
- After these transactions, Silvestro directly owns 76,878 shares of OptimizeRx Corp common stock.
- The restricted stock units vest in three equal annual installments beginning October 3, 2023.
Sentiment
Score: 5
Explanation: This is a neutral report on stock transactions related to executive compensation. It doesn't inherently indicate positive or negative sentiment.
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 transactions have a minor impact on the total outstanding shares of OptimizeRx Corp.
Key Dates
| Date | Description |
|---|---|
| 10/03/2023 | First anniversary of the grant date for restricted stock units, with vesting in three equal annual installments. |
| 10/03/2024 | Restricted stock units vested and shares were withheld for tax obligations. |
| 10/07/2024 | Date of signature on the Form 4 filing. |
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