Form 4: Potbelly Corp CFO Steven Cirulis Reports Stock Disposals for Tax Obligations
SEC Form 4 Filing
Steven Cirulis, CFO of Potbelly Corp, reported disposing of shares to cover tax liabilities upon the vesting of restricted stock units.
Summary
- Steven Cirulis, the SVP and Chief Financial Officer of Potbelly Corporation, filed a Form 4 detailing changes in beneficial ownership.
- On April 6, 2024, 2,930 shares of common stock were disposed of at a price of $10.75 per share to cover tax liabilities related to restricted stock units granted on May 20, 2021.
- On April 7, 2024, 3,044 shares of common stock were disposed of at a price of $10.75 per share to cover tax liabilities related to restricted stock units granted on April 7, 2023.
- Following these transactions, Cirulis directly owns 306,732 shares of Potbelly Corp common stock.
Sentiment
Score: 5
Explanation: Neutral sentiment as the filing relates to routine tax-related stock disposals.
Industry Context
Form 4 filings are a routine part of insider trading regulations, providing transparency into the transactions of company executives and directors. Disposals to cover tax liabilities are common.
Key Dates
| Date | Description |
|---|---|
| 05/20/2021 | Date of grant for restricted stock units related to the April 6, 2024 transaction. |
| 04/07/2023 | Date of grant for restricted stock units related to the April 7, 2024 transaction. |
| 04/06/2024 | Date of disposal of 2,930 shares for tax liabilities. |
| 04/07/2024 | Date of disposal of 3,044 shares for tax liabilities. |
| 04/08/2024 | Date of signature on the Form 4 filing. |
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