Form 4: Safe & Green Development Corp CFO Disposes of Shares to Cover Tax Obligations
SEC Form 4 Filing
Nicolai Ayrton Brune, CFO of Safe & Green Development Corp, disposed of 29,650 shares of common stock on October 1, 2024, to satisfy tax withholding obligations.
Summary
- On October 1, 2024, Nicolai Ayrton Brune, the Chief Financial Officer of Safe & Green Development Corp, disposed of 29,650 shares of common stock.
- The shares were withheld by the issuer to cover the reporting person's tax withholding obligations.
- The transaction was executed at a price of $0.283 per share.
- Following the transaction, Brune directly owns 515,822 shares of Safe & Green Development Corp.
- The transaction is reported under Section 16 of the Securities Exchange Act of 1934.
Sentiment
Score: 5
Explanation: This is a neutral transaction related to tax obligations, with no inherent positive or negative implications for the company's performance.
Industry Context
Form 4 filings are a routine part of insider trading regulations, providing transparency into the transactions of company officers and directors. This transaction is a common occurrence where shares are disposed of to cover tax obligations.
Key Dates
| Date | Description |
|---|---|
| 10/01/2024 | Date of the transaction where 29,650 shares of common stock were disposed of to cover tax obligations. |
| 10/07/2024 | Date of signature for the Form 4 filing. |
Keywords
Form 4, Safe & Green Development Corp, SGD, Nicolai Ayrton Brune, CFO, Share Disposal, Tax Withholding, Beneficial Ownership, Section 16
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