Form 4: Root Inc. Executive Mahtiyar Bonakdarpour Reports Tax-Related Stock Withholding
SEC Form 4 Filing
Mahtiyar Bonakdarpour, President and CTO of Root, Inc., reports the withholding of shares to cover tax obligations related to vesting restricted stock units.
Summary
- On July 1, 2024, Mahtiyar Bonakdarpour, President and CTO of Root, Inc., had 1,669 shares of Class A Common Stock withheld by the issuer to cover tax obligations.
- The shares were withheld at a price of $51.48.
- Following the transaction, Bonakdarpour directly owns 289,642 shares of Class A Common Stock.
- Bonakdarpour also indirectly owns 168,444 shares through Drive Capital Overdrive Fund I, L.P. (DCOF I), Drive Capital Overdrive Fund I (TE), L.P. (DCOF I TE), and Drive Capital Overdrive Ignition Fund I, L.P. (DCOIF I).
Sentiment
Score: 5
Explanation: This is a neutral filing related to tax obligations, not indicative of positive or negative sentiment regarding the company's performance.
Industry Context
Form 4 filings are standard disclosures required by the SEC when insiders (officers, directors, or those holding more than 10% of a company's shares) trade in their company's stock. This filing indicates a routine tax obligation fulfillment rather than a strategic shift in ownership.
Key Dates
| Date | Description |
|---|---|
| 07/01/2024 | Date of the transaction (stock withholding) |
| 07/03/2024 | Date of the signature on the Form 4 filing |
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