Form 4: QuickLogic Corp Executive Sells Shares to Cover Tax Obligations

A QuickLogic Corp executive, Timothy Saxe, sold 10,886 shares of common stock to cover taxes from vested restricted stock units.

Summary

• Timothy Saxe, a Senior VP and CTO at QuickLogic Corp, sold 10,886 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 $7.3879, with individual transactions ranging from $7.345 to $7.3905.
• Following the transaction, Saxe directly owns 117,609 shares of QuickLogic Corp common stock.

Sentiment

Score: 5

Explanation: This is 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 publicly traded companies.
• The sale of shares by Timothy Saxe is consistent with standard procedures for managing equity compensation.
• Similar transactions are regularly reported by executives at comparable technology companies.

Stakeholder Impact

• The sale of shares by an executive may have a minor impact on the stock price, but it is generally not considered a significant event.

Key Dates

Keywords

QuickLogic Corp, stock sale, insider trading, Form 4, executive, equity, tax obligations, restricted stock units