Form 4: Potbelly Corp Executive Adam Noyes Reports Stock Transaction
SEC Form 4 Filing
Adam Noyes, SVP and Chief Operating Officer of Potbelly Corp, reports the disposal of shares to cover tax obligations upon vesting of restricted stock units.
Summary
- On April 1, 2024, Adam Noyes, SVP, Chief Operating Officer of Potbelly Corp, disposed of 3,711 shares of common stock to cover tax liabilities.
- The transaction was executed at a price of $11.62 per share.
- Following the transaction, Noyes directly owns 272,667 shares of Potbelly Corp.
- The shares were withheld for payment of tax liability upon vesting of restricted stock units granted on April 1, 2022.
Sentiment
Score: 5
Explanation: Neutral sentiment as it's a routine transaction related to executive compensation and tax obligations.
Industry Context
Form 4 filings are a routine part of executive compensation and provide transparency into insider transactions. This transaction is related to tax obligations arising from vested stock awards, a common practice.
Key Dates
| Date | Description |
|---|---|
| 04/01/2022 | Date of grant for the restricted stock units that vested. |
| 04/01/2024 | Date of the stock transaction (disposal of shares). |
| 04/03/2024 | Date of signature on the Form 4 filing. |
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