Form 4: Peakstone Realty Trust CEO Michael Escalante Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
CEO Michael Escalante of Peakstone Realty Trust sold shares to cover tax obligations related to the vesting of restricted stock units.
Summary
- On March 25, 2024, Michael J. Escalante, CEO and President of Peakstone Realty Trust, disposed of 2,622.25 shares of common stock to satisfy tax withholding obligations.
- The shares were sold at a price of $16.22 per share.
- This transaction was related to the delivery of common shares underlying previously reported time-based restricted stock units granted on March 25, 2021.
- Following the transaction, Escalante beneficially owns 177,607.612 shares of Peakstone Realty Trust.
Sentiment
Score: 5
Explanation: The document describes a routine transaction (selling shares to cover taxes on vested stock). It's neutral in nature and doesn't indicate any significant positive or negative sentiment.
Industry Context
Form 4 filings are standard practice and provide transparency into the transactions of company insiders. This transaction is a routine sale of shares to cover tax obligations, which is a common occurrence when restricted stock units vest.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a routine sale to cover tax obligations.
Key Dates
| Date | Description |
|---|---|
| 03/25/2021 | Date of grant for time-based restricted stock units. |
| 03/25/2024 | Date of transaction: shares withheld to cover tax obligations. |
| 03/27/2024 | Date of signature on the Form 4 filing. |
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