Form 4: Quantum Corp Executive Brian E. Cabrera Reports Stock Sales to Cover Tax Obligations
SEC Form 4 Filing
Quantum Corp's SVP, Chief Admin Officer & Secretary, Brian E. Cabrera, sold shares to cover tax obligations related to vesting restricted stock units.
Summary
- Brian E. Cabrera, SVP, Chief Admin Officer & Secretary at Quantum Corp, reported the sale of 291 shares of common stock on November 8, 2024, at a price of $4.45 per share.
- Additionally, Mr. Cabrera sold 1,996 shares of common stock on January 16, 2025, at a price of $35.68 per share.
- These sales were executed to cover tax withholding obligations associated with the vesting of restricted stock units.
- The restricted stock units were granted on November 1, 2021, November 1, 2022, and January 1, 2024.
Sentiment
Score: 5
Explanation: The document is neutral, reporting routine stock sales for tax purposes. It does not indicate any positive or negative sentiment.
Industry Context
This is a routine filing related to executive stock transactions and is common for publicly traded companies.
Comparison to Industry Standards
- Executive stock sales to cover tax obligations are a common practice across publicly traded companies.
- The sale of shares by Brian E. Cabrera is consistent with standard procedures for executives holding restricted stock units.
- Similar filings can be seen from executives at companies such as NetApp, Dell, and Hewlett Packard Enterprise.
Stakeholder Impact
- The stock sales may have a minor impact on the overall share price, but are not expected to be significant.
Key Dates
| Date | Description |
|---|---|
| 11/01/2021 | Grant date of some of the restricted stock units that vested. |
| 11/01/2022 | Grant date of some of the restricted stock units that vested. |
| 01/01/2024 | Grant date of some of the restricted stock units that vested. |
| 11/08/2024 | Date of the first reported stock sale. |
| 01/16/2025 | Date of the second reported stock sale. |
| 01/17/2025 | Date the Form 4 was signed. |
Keywords
Quantum Corp, stock sale, insider trading, Form 4, restricted stock units, tax obligations, Brian E. Cabrera
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