Form 4: Semtech Corp Director Cardenuto Reports Stock Unit Vesting and Share Disposal
SEC Form 4 Filing
Director Rodolpho Cardenuto reports the vesting of restricted stock units and subsequent disposal of shares to cover tax obligations.
Summary
- On June 9, 2024, Semtech Corp Director Rodolpho Cardenuto reported a transaction involving common stock and restricted stock units.
- 3,534 restricted stock units vested and were converted into common stock.
- Concurrently, 3,534 shares were disposed of at a price of $31.18 per share.
- Following the transaction, Cardenuto directly owns 10,266 shares of Semtech common stock.
Sentiment
Score: 5
Explanation: The document reflects a routine transaction; sentiment is neutral.
Industry Context
Form 4 filings are standard disclosures required by the SEC for corporate insiders, providing transparency into their transactions in company stock. This filing indicates routine activity related to equity compensation.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it involves a small number of shares relative to the company's total outstanding shares.
Key Dates
| Date | Description |
|---|---|
| October 6, 2023 | Date of Power of Attorney granted by Rodolpho Cardenuto. |
| June 9, 2024 | Date of transaction involving vesting of restricted stock units and disposal of shares. |
| June 10, 2024 | Date of signature for the Form 4 filing. |
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