Form 4: Smith Micro Software CFO James Kempton Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
James Kempton, CFO of Smith Micro Software, sold 4,804 shares of common stock on March 13, 2024, to cover withholding tax obligations related to the vesting of a restricted stock award.
Summary
- On March 13, 2024, James M. Kempton, the VP, CFO, and Treasurer of Smith Micro Software, Inc. (SMSI), sold 4,804 shares of the company's common stock.
- The sale was executed at a price of $0.35 per share.
- This transaction was a 'sell-to-cover' transaction to satisfy withholding tax obligations associated with the vesting of a restricted stock award.
- Following the transaction, Kempton directly owns 407,973 shares of Smith Micro Software.
Sentiment
Score: 5
Explanation: This is a neutral event. The sale is related to tax obligations and doesn't necessarily reflect a change in the executive's view of the company's prospects.
Industry Context
This is a routine transaction where an executive sells shares to cover tax obligations arising from the vesting of restricted stock. It's a common practice and doesn't necessarily indicate a change in the executive's confidence in the company.
Key Dates
| Date | Description |
|---|---|
| 03/13/2024 | Date of the stock sale transaction. |
| 03/15/2024 | Date of signature on the Form 4 filing. |
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