Form 4: Semtech SVP and GM, Madhusudhan Rayabhari, Reports Stock Transactions
SEC Form 4 Filing
Madhusudhan Rayabhari, SVP and GM of Semtech, reports the vesting and subsequent disposal of shares related to restricted stock units.
Summary
- On August 19, 2024, Madhusudhan Rayabhari, SVP and GM of Semtech Corp, reported transactions involving Semtech common stock.
- Rayabhari exercised restricted stock units, acquiring 1,100 shares of common stock.
- Simultaneously, 393 shares were disposed of to cover tax obligations at a price of $35.9 per share.
- Following these transactions, Rayabhari directly owns 32,532 shares of Semtech common stock.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions by an executive. It doesn't inherently convey positive or negative sentiment.
Industry Context
This Form 4 filing is a routine disclosure required by the SEC for corporate insiders, providing transparency into their stock transactions. It is a standard practice for executives to exercise stock options or restricted stock units and then sell a portion of the shares to cover tax obligations.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they involve a relatively small number of shares.
Key Dates
| Date | Description |
|---|---|
| August 19, 2021 | Initial vesting date of the restricted stock unit grant in four annual installments. |
| October 6, 2023 | Date of Power of Attorney granted to Mark Lin. |
| August 19, 2024 | Date of the reported transactions: exercise of restricted stock units and disposal of shares for tax obligations. |
| August 20, 2024 | Date of signature for the Form 4 filing. |
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