Form 4: Quantum Corp CEO James Lerner Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Quantum Corp's CEO, James Lerner, sold 2,511 shares of common stock on January 16, 2025, to cover tax obligations related to vesting restricted stock units.
Summary
- James Lerner, the President and CEO of Quantum Corp, sold 2,511 shares of common stock on January 16, 2025.
- The sale was executed at a price of $35.68 per share.
- This transaction was conducted to cover tax withholding obligations associated with the vesting of restricted stock units granted on January 1, 2024.
- Following the transaction, Mr. Lerner directly owns 107,804 shares of Quantum Corp stock.
Sentiment
Score: 5
Explanation: The document reflects a routine transaction related to executive compensation and does not indicate any positive or negative sentiment.
Industry Context
This is a routine transaction for executives who receive stock-based compensation. It is common for executives to sell shares to cover tax obligations when restricted stock units vest.
Comparison to Industry Standards
- Sales of shares by executives to cover tax obligations are a common practice across the industry.
- Many companies use restricted stock units as part of executive compensation packages, leading to similar tax-related sales.
- The number of shares sold and the price are specific to Quantum Corp and its executive compensation plan.
Stakeholder Impact
- The sale of shares by the CEO may have a minor impact on the stock price, but it is unlikely to be significant given the relatively small number of shares sold.
Key Dates
| Date | Description |
|---|---|
| 01/01/2024 | Date of grant for the restricted stock units that triggered the tax obligations. |
| 01/16/2025 | Date of the stock sale by James Lerner. |
| 01/17/2025 | Date of the filing of the SEC Form 4. |
Keywords
Quantum Corp, James Lerner, stock sale, insider trading, tax obligations, restricted stock units, executive compensation
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