Form 4: Safe & Green Development Corp CEO Disposes of Shares to Cover Tax Obligations

CEO David Roberto Villarreal disposed of 64,048 shares of Safe & Green Development Corp stock on October 1, 2024, to cover tax withholding obligations.

Summary

• On October 1, 2024, David Roberto Villarreal, CEO of Safe & Green Development Corp, disposed of 64,048 shares of common stock.
• The transaction was executed at a price of $0.283 per share.
• The shares were withheld by the issuer to satisfy the reporting person's tax withholding obligations.
• Following the transaction, Villarreal directly owns 1,245,062 shares of Safe & Green Development Corp.
• The transaction was reported on October 7, 2024.

Sentiment

Score: 5

Explanation: The document describes a routine transaction (disposal of shares for tax obligations) by the CEO, which is neither particularly positive nor negative. It's a neutral event in terms of investment sentiment.

Industry Context

Form 4 filings are standard practice and provide transparency into the transactions of company insiders, allowing investors to track ownership changes and potential alignment of interests.

Stakeholder Impact

• The disposal of shares by the CEO could have a minor impact on shareholder sentiment, but is unlikely to be significant given the reason for the disposal (tax obligations).

Key Dates

Keywords

Safe & Green Development Corp, SGD, David Roberto Villarreal, CEO, Form 4, Share Disposal, Tax Withholding, Beneficial Ownership, Securities Exchange Act