4/A: Power Integrations VP of Marketing Corrects Stock Sale Reporting Error

Doug Bailey, VP of Marketing at Power Integrations, files an amendment to a previous Form 4 to correct the number of shares sold and the transaction price related to covering tax liabilities from a restricted stock award vesting.

Summary

• Doug Bailey, VP of Marketing at Power Integrations, filed an amended Form 4 to correct an error in the initial filing on February 6, 2024.
• The amendment addresses an incorrect report of the number of shares sold and the transaction price on February 2, 2024.
• The error stemmed from a system issue in the filing software.
• The sale was to cover the tax liability associated with the vesting of a Restricted Stock Award.
• The corrected information includes the number of shares sold (563) at a price of $74.4894.
• Following the corrected transaction, Bailey beneficially owns 100,465 shares of Power Integrations stock.

Sentiment

Score: 6

Explanation: The document is a routine correction of a regulatory filing. While the initial error is a minor negative, the correction itself is a positive sign of transparency.

Negatives

• A system error in the filing software led to an initial misreporting of the stock sale.

Industry Context

Form 4 filings are standard practice for reporting transactions by company insiders, and amendments are sometimes necessary to correct errors.

Key Dates