Form 4: Peakstone Realty Trust CEO Michael Escalante Reports Share Transaction
SEC Form 4 Filing
Peakstone Realty Trust CEO Michael Escalante reports the withholding of 57,632.612 common shares to cover tax obligations related to the vesting of restricted share units.
Summary
- Michael Escalante, CEO and President of Peakstone Realty Trust, reported a transaction involving the company's common stock.
- On December 31, 2024, 57,632.612 common shares were withheld by the issuer to satisfy tax obligations.
- This withholding was related to the vesting of 107,223 previously reported time-based restricted share units.
- The restricted share units were granted on August 5, 2022, March 23, 2023, and April 1, 2024.
- The price per share for the transaction was $11.06.
- Following the transaction, Escalante directly owns 393,228 common shares and indirectly owns 28,133 shares through his spouse.
Sentiment
Score: 7
Explanation: The document reflects a routine transaction related to executive compensation. It is neither particularly positive nor negative, but is a normal part of company operations.
Industry Context
This is a routine filing related to executive compensation and is common for publicly traded companies. It reflects the vesting of previously granted equity awards.
Comparison to Industry Standards
- The vesting of restricted share units and subsequent tax withholding is a standard practice in executive compensation across various industries.
- Many companies use similar equity-based compensation plans to align executive interests with shareholder value.
- The specific number of shares and vesting schedules vary based on company performance and individual agreements.
Stakeholder Impact
- The transaction has a minor impact on shareholders as it involves the vesting of previously granted shares.
- The withholding of shares for tax purposes is a standard practice and does not significantly affect the company's financial position.
Key Dates
| Date | Description |
|---|---|
| 2022-08-05 | Date of one of the grants of restricted share units. |
| 2023-03-23 | Date of one of the grants of restricted share units. |
| 2024-04-01 | Date of one of the grants of restricted share units. |
| 2024-12-31 | Date of the share withholding transaction. |
| 2025-01-02 | Date of the filing of the Form 4. |
Keywords
Peakstone Realty Trust, Michael Escalante, share transaction, restricted share units, tax withholding, common stock, insider trading
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