Form 4: Richardson Electronics CEO Surrenders Shares for Tax Obligations
SEC Form 4 Filing
Edward J. Richardson, Chairman and CEO of Richardson Electronics, surrendered 1,038 shares to cover income tax obligations related to vesting restricted shares.
Summary
- Edward J. Richardson, Chairman and CEO of Richardson Electronics, surrendered 1,038 shares of common stock on July 17, 2024.
- The shares were surrendered to cover income tax withholding obligations related to the vesting of previously reported restricted shares.
- The transaction occurred at a price of $12.45 per share, which was the closing price on the NASDAQ Global Select Market on that date.
- Following the transaction, Richardson directly owns 40,263 shares of Richardson Electronics common stock.
Sentiment
Score: 5
Explanation: This is a neutral transaction related to tax obligations, with no significant positive or negative implications for the company.
Industry Context
This is a routine transaction related to executive compensation and tax obligations. It is common for executives to surrender shares to cover these obligations upon the vesting of restricted stock units.
Key Dates
| Date | Description |
|---|---|
| 07/17/2024 | Date of the transaction where 1,038 shares were surrendered to cover tax obligations. |
| 07/18/2024 | Date of signature on the Form 4 filing. |
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