Form 4: SkYX Platforms CFO Marc Andre Boisseau Reports Share Withholding for Tax Obligations
SEC Form 4 Filing
Chief Financial Officer of SKYX Platforms Corp., Marc Andre Boisseau, reports withholding shares to cover tax obligations related to vesting restricted stock units.
Summary
- On April 5, 2024, Marc Andre Boisseau, CFO of SKYX Platforms Corp., reported a transaction involving common stock.
- Boisseau withheld 17,860 shares to satisfy tax obligations related to the vesting of restricted stock units (RSUs) at a price of $1.08 per share.
- Following the transaction, Boisseau directly owns 115,110 shares of SKYX Platforms Corp.
- This includes 40,000 RSUs vesting on April 5, 2025, and 12,500 RSUs vesting on May 15, 2024.
- Boisseau also holds options to purchase 120,000 shares at $3.28, vesting in equal annual installments from April 5, 2023, and options to purchase 10,000 shares at $12.34, granted March 31, 2022.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing an insider transaction for tax purposes, indicating a neutral sentiment.
Industry Context
This is a standard SEC Form 4 filing, reflecting insider transactions. It is common for executives to withhold shares to cover tax obligations when RSUs vest.
Stakeholder Impact
- The transaction has a minor impact on shareholders as it involves the withholding of shares for tax purposes, which is a common practice.
Key Dates
| Date | Description |
|---|---|
| 03/31/2022 | Grant date for stock options to purchase 10,000 shares at $12.34 |
| 04/05/2023 | Start date for vesting of stock options to purchase 120,000 shares at $3.28 in three equal annual installments |
| 04/05/2024 | Date of share withholding transaction and report filing |
| 05/15/2024 | Vesting date for 12,500 RSUs |
| 04/05/2025 | Vesting date for 40,000 RSUs |
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