Form 4: Origin Materials Co-CEO Sells Shares to Cover Tax Obligations

Origin Materials Co-CEO John Bissell sold 6,598 shares of common stock to cover tax obligations related to vesting restricted stock units.

Summary

• John Bissell, Co-CEO and Director of Origin Materials, Inc., sold 6,598 shares of common stock on November 14, 2024.
• The sale was executed to cover tax withholding obligations associated with the vesting of restricted stock units.
• The shares were sold at a weighted-average price of $1.2519, with individual prices ranging from $1.25 to $1.255.
• Following the transaction, Bissell directly owns 1,617,230 shares of Origin Materials common stock.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction for tax purposes, not indicative of positive or negative sentiment towards the company's prospects.

Management Comments

• The sales were to satisfy tax withholding obligations to be funded by a 'sell to cover' transaction and do not represent discretionary transactions by the Reporting Person.

Industry Context

This is a routine transaction for executives who receive stock-based compensation. It is common for executives to sell shares to cover tax obligations when restricted stock units vest.

Comparison to Industry Standards

• Sales of shares to cover tax obligations are a common practice among executives at publicly traded companies.
• The sale is consistent with standard procedures for handling restricted stock unit vesting.
• Similar transactions are regularly reported by executives at comparable companies.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine sale to cover tax obligations.

Key Dates

Keywords

Origin Materials, John Bissell, stock sale, Form 4, insider trading, tax obligations, restricted stock units