Form 4: Smith Micro Software CFO James Kempton Reports Stock Transactions
SEC Form 4 Filing
Smith Micro Software's CFO, James Kempton, reported the forfeiture of 322 shares of restricted stock and the withholding of 3,097 shares for tax obligations.
Summary
- James M. Kempton, the VP, CFO, and Treasurer of Smith Micro Software, Inc., filed a Form 4 detailing changes in his beneficial ownership of company stock.
- On November 12, 2024, 322 shares of restricted stock were forfeited.
- On November 13, 2024, 3,097 shares were withheld at an average price of $0.90 per share to cover income tax obligations.
- Following these transactions, Kempton's direct holdings of common stock decreased to 70,767 shares.
Sentiment
Score: 5
Explanation: The document is a routine filing of stock transactions, with no significant positive or negative implications. It is a neutral event.
Negatives
- The forfeiture of 322 shares of restricted stock represents a decrease in Kempton's holdings.
- The withholding of 3,097 shares for tax obligations also reduces his overall share count.
Risks
- Changes in executive stock ownership can sometimes be perceived negatively by the market, although these transactions appear to be routine.
Industry Context
Executive stock transactions are a common occurrence and are regularly reported to the SEC. This filing is a routine disclosure of changes in beneficial ownership.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies in the US, and the transactions reported by James Kempton are typical for executive compensation and tax obligations.
- Similar filings are made by executives at companies like Qualcomm (QCOM) and Adobe (ADBE) when they have stock transactions.
Stakeholder Impact
- The transactions have a minimal impact on shareholders as they are routine and do not indicate a change in the company's performance or outlook.
Key Dates
| Date | Description |
|---|---|
| 11/12/2024 | Forfeiture of 322 shares of restricted stock. |
| 11/13/2024 | Withholding of 3,097 shares for tax obligations at an average price of $0.90 per share. |
| 11/14/2024 | Date of filing of the Form 4. |
Keywords
Form 4, Smith Micro Software, SMSI, James Kempton, CFO, Stock Transactions, Beneficial Ownership, Restricted Stock, Tax Withholding
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