Form 4: Pure Storage CFO Krysler P. Kevan Reports Tax-Related Share Withholding

Chief Financial Officer of Pure Storage, Krysler P. Kevan, reports the withholding of shares to cover income tax obligations related to equity award vesting.

Summary

• On June 20, 2024, Krysler P. Kevan, the Chief Financial Officer of Pure Storage, Inc., had 12,678 shares of Class A Common Stock withheld by the issuer to satisfy income tax obligations.
• The withholding occurred in connection with the vesting and net settlement of the reporting person's equity awards.
• Following the transaction, Krysler P. Kevan beneficially owns 532,919 shares of Class A Common Stock directly.

Sentiment

Score: 7

Explanation: This is a routine transaction related to executive compensation and tax obligations, so it's neutral to slightly positive as it reflects the vesting of equity awards.

Industry Context

Form 4 filings are a routine part of executive compensation and provide transparency into insider transactions. This filing indicates a standard tax withholding process related to equity compensation, which is common in the tech industry.

Comparison to Industry Standards

• Tax withholding on equity awards is a standard practice across publicly traded companies.
• Companies like Microsoft, Apple, and Amazon also regularly report similar transactions via Form 4 filings for their executives.
• The number of shares withheld is proportional to the executive's tax obligations and the value of the vested equity.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a standard tax withholding process.
• Employees who receive equity compensation may be interested in understanding the tax implications of vesting shares.

Key Dates