Form 4: QuickLogic CFO Sells Shares to Cover Tax Obligations

QuickLogic's CFO, Elias Nader, sold 8,711 shares of common stock to cover tax obligations from vested restricted stock units.

Summary

• Elias Nader, the CFO and SVP of Finance at QuickLogic Corp, sold 8,711 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 $7.386, with individual transactions ranging from $7.3109 to $7.3905.
• Following the transaction, Nader directly owns 60,955 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 sales by executives at other firms.
• The sale by QuickLogic's CFO is consistent with standard practices for managing personal finances and tax liabilities related to equity compensation.

Stakeholder Impact

• The sale of shares by the CFO is unlikely to have a significant impact on shareholders, employees, customers, suppliers, or creditors.

Key Dates

Keywords

QuickLogic, Elias Nader, CFO, stock sale, insider trading, Form 4, restricted stock units, tax obligations