Form 4: Root, Inc. Executive Mahtiyar Bonakdarpour Reports Tax Withholding Stock Transaction
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 October 1, 2024, Mahtiyar Bonakdarpour, President and CTO of Root, Inc., had 1,670 shares of Class A Common Stock withheld by the issuer to cover tax obligations.
- The shares were withheld at a price of $37.74.
- Following the transaction, Bonakdarpour directly owns 287,576 shares of Class A Common Stock.
- Additionally, 168,444 shares are indirectly held 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: The document is a standard regulatory filing detailing a routine transaction. It doesn't contain information that would significantly sway investor sentiment positively or negatively.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates a standard tax withholding procedure related to vested stock units, which is a common practice.
Key Dates
| Date | Description |
|---|---|
| 10/01/2024 | Date of stock transaction (tax withholding). |
| 10/03/2024 | Date of signature for the Form 4 filing. |
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