Form 4: Pathward Financial CEO Brett Pharr Disposes of Shares to Cover Tax Obligations
SEC Form 4 Filing
Pathward Financial's CEO, Brett L. Pharr, disposed of 1,028 shares of common stock on February 25, 2024, to cover tax withholding obligations related to the vesting of restricted stock.
Summary
- On February 25, 2024, Brett L. Pharr, the CEO of Pathward Financial, disposed of 1,028 shares of common stock at a price of $51.1 per share.
- This transaction was executed to satisfy tax withholding obligations associated with the vesting of restricted stock.
- Following the transaction, Pharr directly owns 42,621 shares of Pathward Financial common stock and indirectly owns 614 shares through an IRA.
Sentiment
Score: 5
Explanation: Neutral sentiment as the document reports a routine transaction related to tax obligations.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This transaction is a common occurrence where executives sell shares to cover tax obligations related to stock vesting.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a routine disposal of shares for tax purposes and does not indicate a change in the executive's long-term outlook on the company.
Key Dates
| Date | Description |
|---|---|
| 2023-10-02 | Date of Power of Attorney execution. |
| 2024-02-25 | Date of the transaction where shares were disposed of to cover tax obligations. |
| 2024-02-28 | Date of signature for the report. |
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