Form 4: PlayAGS CEO David Lopez Disposes of Shares to Cover Tax Obligations

David Lopez, CEO of PlayAGS, Inc., disposed of 35,235 shares of common stock on March 11, 2024, to cover tax liabilities associated with the vesting of restricted shares.

Summary

• On March 11, 2024, David Lopez, the CEO of PlayAGS, Inc. (AGS), disposed of 35,235 shares of common stock at a price of $9.08 per share.
• This transaction was executed to cover federal and state tax withholding obligations resulting from the settlement of vested restricted shares.
• The shares were relinquished by Mr. Lopez and cancelled by the Issuer in exchange for the Issuer's agreement to pay the tax obligations.
• Following the transaction, Mr. Lopez beneficially owns 564,786 shares of PlayAGS, Inc.
• The transaction was exempt under Rule 16b-3(e), which allows for the payment of exercise price or tax liability by delivering or withholding securities incident to the vesting of restricted shares.

Sentiment

Score: 6

Explanation: The sentiment is neutral as the transaction is a routine sale of shares to cover tax obligations, with no indication of a change in the executive's long-term outlook on the company.

Management Comments

• The Reporting Person did not sell or otherwise dispose of any of the shares reported on this Form 4 for any reason other than to cover required taxes.

Industry Context

This is a routine transaction for executives who receive stock as part of their compensation. It is common for them to sell shares to cover the tax obligations associated with the vesting of those shares.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine sale to cover tax obligations and does not indicate a change in the executive's confidence in the company.

Key Dates