Form 4: Sphere 3D CEO Patricia Trompeter Reports Stock Transactions
SEC Form 4
Patricia Trompeter, CEO of Sphere 3D Corp., reports the acquisition and disposal of common stock and Restricted Stock Units (RSUs).
Summary
- On June 7, 2024, Patricia Trompeter, CEO of Sphere 3D Corp., acquired 571,608 shares of common stock through the vesting of Restricted Stock Units (RSUs).
- On June 7, 2024, 571,608 RSUs were converted to common stock.
- On June 11, 2024, Trompeter sold 150,000 shares of common stock at a price of $1.143 per share.
- The sale was to satisfy the issuer's tax withholding obligations related to the RSU vesting.
- Following these transactions, Trompeter directly owns 549,687 shares of common stock and 674,107 RSUs.
- The RSUs vest according to two schedules: 17,857 shares vest on April 8, 2025, and 93,750 shares vest quarterly beginning June 30, 2024, until December 31, 2025.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing detailing stock transactions by an insider, with no inherent positive or negative sentiment.
Industry Context
This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. It provides transparency into the trading activities of company executives.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in ownership by a key executive.
Key Dates
| Date | Description |
|---|---|
| 2022-12-20 | Date of Power of Attorney execution. |
| 2024-06-07 | Date of RSU vesting and acquisition of 571,608 common stock shares. |
| 2024-06-11 | Date of sale of 150,000 common stock shares at $1.143 per share. |
| 2024-06-30 | Start date for quarterly vesting of 93,750 RSUs. |
| 2025-04-08 | Vesting date for 17,857 RSUs. |
| 2025-12-31 | End date for quarterly vesting of 93,750 RSUs. |
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