Form 4: Phunware Chief Legal Officer Christopher D. Olive Reports Share Disposal for Tax Withholding
SEC Form 4 Filing
Christopher D. Olive, Chief Legal Officer of Phunware, Inc., reported the disposal of shares to cover tax obligations related to the company's 2018 Equity Incentive Plan.
Summary
- On May 9, 2024, Christopher D. Olive, the Chief Legal Officer of Phunware, Inc., filed a Form 4 indicating changes in beneficial ownership of the company's stock.
- The filing reports the disposal of 245 shares of common stock at a price of $7.34 per share.
- This disposal was to cover tax withholding obligations under the company's 2018 Equity Incentive Plan.
- Following the transaction, Olive directly owns 15,479 shares of Phunware common stock.
- All share amounts have been adjusted to reflect a one-for-fifty reverse stock split that took effect on February 26, 2024.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing a standard transaction for tax purposes, indicating a neutral sentiment.
Industry Context
Form 4 filings are standard practice for company insiders to report transactions in their company's stock, providing transparency to investors.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a small number of shares disposed of for tax purposes.
Key Dates
| Date | Description |
|---|---|
| February 26, 2024 | Effective date of the one-for-fifty reverse stock split. |
| May 09, 2024 | Date of the share disposal transaction and Form 4 filing. |
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