Form 4: QuickLogic CEO Brian C. Faith Sells Shares to Cover Tax Obligations

QuickLogic's CEO, Brian C. Faith, sold 21,402 shares of common stock to cover taxes from vested restricted stock units.

Summary

• Brian C. Faith, the President and CEO of QuickLogic Corp, sold 21,402 shares of common stock on December 5, 2024.
• The sale was executed to cover tax obligations arising from restricted stock units that vested on November 28, 2024.
• The shares were sold at a weighted average price of $7.3862, with individual transactions ranging from $7.3160 to $7.3905.
• Following the transaction, Mr. Faith directly owns 193,584 shares of QuickLogic common stock.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction related to executive compensation and does not indicate any positive or negative sentiment about the company's performance.

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 liabilities when restricted stock units vest.

Comparison to Industry Standards

• Executive stock sales to cover tax obligations are a common practice across the technology industry.
• Many companies use restricted stock units as part of their compensation packages, leading to similar transactions by executives at other firms.
• The sale by Mr. Faith is consistent with standard practices for managing personal finances and tax liabilities related to equity compensation.

Stakeholder Impact

• The sale of shares by the CEO has a minimal impact on shareholders as it is a routine transaction for tax purposes.

Key Dates

Keywords

QuickLogic, Brian C. Faith, stock sale, insider trading, SEC Form 4, restricted stock units, tax obligations