Form 4: Root, Inc. Executive Mahtiyar Bonakdarpour Reports Tax Withholding Transactions
SEC Form 4 Filing
Mahtiyar Bonakdarpour, President and CTO of Root, Inc., reports the withholding of Class A Common Stock to cover tax obligations related to vesting restricted stock units.
Summary
- On May 1, 2024, Mahtiyar Bonakdarpour, President and CTO of Root, Inc., had shares of Class A Common Stock withheld by the issuer to satisfy tax withholding obligations.
- A total of 67, 245, and 83 shares were withheld at a price of $69.91 each.
- Following these transactions, Bonakdarpour directly owns 291,311 shares of Class A Common Stock.
- Bonakdarpour also has indirect ownership of 168,444 shares through Drive Capital Overdrive Fund I, L.P. and related entities.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing related to tax obligations, so the sentiment is neutral.
Industry Context
Form 4 filings are a routine part of compliance for corporate insiders, providing transparency into their transactions in company stock. This filing indicates standard tax-related stock withholding.
Key Dates
| Date | Description |
|---|---|
| 05/01/2024 | Date of the transactions involving the withholding of Class A Common Stock. |
| 05/03/2024 | Date of signature by Jodi Baker, Attorney-in-fact. |
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