Form 4: PLBY Group CEO Bernhard Kohn III Sells Shares to Cover Tax Obligations

PLBY Group CEO Bernhard Kohn III sold shares of common stock between August 19 and August 21, 2024, to cover tax withholding obligations related to the settlement of restricted stock units.

Summary

• Bernhard L. Kohn III, CEO and President of PLBY Group, Inc., reported the sale of common stock between August 19 and August 21, 2024.
• The sales were executed to cover tax withholding obligations related to the settlement of restricted stock units.
• On August 19, 2024, 69,871 shares were sold at a weighted average price of $0.6206.
• On August 20, 2024, 79,330 shares were sold at a weighted average price of $0.554.
• On August 21, 2024, 71,323 shares were sold at a weighted average price of $0.5623.
• Following these transactions, Mr. Kohn directly owns 2,590,023 shares of PLBY Group, Inc.
• Mr. Kohn also indirectly owns shares through Cold Springs Trust (75,361 shares), Woodburn Dr LP (445,309 shares), and Bircoll Kohn Family Trust (50,000 shares), but disclaims beneficial ownership except to the extent of his pecuniary interest.
• The sales were conducted under the issuer's current practices for covering taxes related to the settlement of restricted stock units.

Sentiment

Score: 5

Explanation: The sentiment is neutral. The stock sales are attributed to tax obligations, which is a common and expected practice. There's no indication of a negative outlook on the company's performance.

Industry Context

Sales of shares by company executives are a common occurrence, often related to compensation and tax obligations. The market typically analyzes these transactions to gauge insider sentiment, although sales for tax purposes are generally viewed as less indicative of the executive's view of the company's prospects.

Comparison to Industry Standards

• Executive stock sales are a routine part of corporate governance, especially when tied to equity compensation.
• Companies like Netflix, Disney, and Paramount Global also see regular Form 4 filings from their executives.
• The scale of these sales is relatively small compared to the overall market capitalization of PLBY Group, and the stated reason (tax obligations) is a common one.

Stakeholder Impact

• The stock sales could have a minor impact on shareholders due to the increased supply of shares in the market, but the effect is likely to be minimal given the relatively small volume.
• Employees holding stock options or restricted stock units may be indirectly affected by the stock price fluctuations.

Key Dates