Form 4: Spruce Power Holding Corp: Chief Legal Officer Jonathan M. Norling Reports Tax Withholding Transaction
SEC Form 4 Filing
Jonathan M. Norling, Chief Legal Officer of Spruce Power Holding Corp, reports the withholding of 6,099 common stock shares to cover tax obligations related to vesting restricted stock units.
Summary
- On April 3, 2024, Jonathan M. Norling, the Chief Legal Officer of Spruce Power Holding Corp, had 6,099 shares of common stock withheld to cover tax obligations.
- This transaction was related to the vesting of restricted stock units (RSUs) that were previously reported on April 5, 2023.
- The shares were withheld at a price of $3.64 per share.
- Following the transaction, Norling directly owns 117,588 shares of Spruce Power Holding Corp.
- The reported amounts have been adjusted to 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 detailing a routine transaction. It doesn't contain information that would significantly impact investor sentiment positively or negatively.
Industry Context
Form 4 filings are a routine part of insider trading regulations, providing transparency into the transactions of company executives and their ownership positions. This filing indicates a standard tax withholding procedure related to vested equity compensation.
Stakeholder Impact
- The transaction has a minimal impact on stakeholders as it is a routine tax withholding related to executive compensation.
Key Dates
| Date | Description |
|---|---|
| 04/05/2023 | Date of previous Form 4 filing reporting the applicable RSUs. |
| 10/06/2023 | Effective date of the 1 to 8 reverse stock split. |
| 04/03/2024 | Date of the transaction where shares were withheld for tax obligations. |
| 04/05/2024 | Date of the current Form 4 filing. |
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