Form 4: OptimizeRx Executive Stephen L. Silvestro Reports Stock Transactions
SEC Form 4 Filing
Stephen L. Silvestro, Chief Commercial Officer of OptimizeRx Corp, reports the vesting of restricted stock units and subsequent tax withholding.
Summary
- On May 2, 2024, Stephen L. Silvestro, Chief Commercial Officer of OptimizeRx Corp, had 90,000 restricted stock units vest.
- These units converted into 90,000 shares of common stock.
- The company withheld 35,415 shares to cover the reporting person's tax obligations at a price of $10.7 per share.
- Following these transactions, Silvestro directly owns 72,846 shares of OptimizeRx Corp.
- The restricted stock units cliff vested in full on May 2, 2024, the fifth anniversary of the grant date.
Sentiment
Score: 5
Explanation: This is a routine filing related to executive compensation. It doesn't indicate any particular positive or negative sentiment about the company's performance.
Industry Context
Form 4 filings are a routine part of executive compensation and provide transparency into the trading activities of company insiders. This filing indicates the vesting of previously granted equity compensation.
Stakeholder Impact
- The vesting of restricted stock units dilutes existing shareholders' equity slightly.
- The tax withholding generates revenue for the government.
Key Dates
| Date | Description |
|---|---|
| 05/02/2024 | Date of transaction: vesting of restricted stock units and tax withholding. |
| 05/06/2024 | Date of signature on the Form 4 filing. |
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