SPRU.NYSESpruce Power Holding CORP

Form 4: Spruce Power Holding Corp CFO Sarah Weber Wells Reports Stock Transaction

Sentiment:

SEC Form 4 Filing

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Sarah Weber Wells, CFO of Spruce Power Holding Corp, reports the withholding of 4,504 shares of common stock to cover tax obligations related to vesting restricted stock units.

Summary

  • On April 3, 2024, Sarah Weber Wells, the Chief Financial Officer of Spruce Power Holding Corp, had 4,504 shares of common stock withheld to cover tax obligations related to the vesting of restricted stock units (RSUs).
  • The price per share for the transaction was $3.64.
  • Following the transaction, Wells directly owns 96,087 shares of Spruce Power Holding Corp.
  • The reported holdings reflect a 1-for-8 reverse stock split that took effect on October 6, 2023.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing related to stock transactions for tax purposes, indicating a neutral sentiment.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates the CFO's stock transactions related to tax obligations from vested RSUs, which is a common occurrence.

Stakeholder Impact

  • The transaction has a minor impact on shareholders as it involves the withholding of shares for tax obligations, which is a normal part of executive compensation.

Key Dates

DateDescription
10/06/2023Effective date of 1 to 8 reverse stock split.
04/03/2024Date of stock transaction (tax withholding).
04/04/2024Date of signature on the Form 4.
04/05/2023Date of Form 4 filing for applicable RSUs.

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