Form 4: Staar Surgical CEO Thomas Frinzi Sells Shares to Cover Taxes
SEC Form 4 Filing
Staar Surgical CEO Thomas Frinzi sold 10,775 shares of common stock to cover taxes related to a vesting restricted stock unit award.
Summary
- Thomas G. Frinzi, the President and CEO of Staar Surgical Co, sold 10,775 shares of common stock on January 3, 2025.
- The sale was executed at a price of $24.54 per share.
- This transaction was to cover taxes associated with the vesting of a portion of a restricted stock unit award granted to Mr. Frinzi on January 3, 2023.
- Following the transaction, Mr. Frinzi directly owns 70,519 shares of Staar Surgical Co.
Sentiment
Score: 5
Explanation: This is a neutral transaction related to tax obligations and does not indicate a change in the company's outlook or the executive's confidence in the company.
Industry Context
This is a routine transaction for executives who receive stock-based compensation. It is common for executives to sell shares to cover tax obligations when restricted stock units vest.
Comparison to Industry Standards
- Executive stock sales to cover taxes are a common practice across the industry.
- Many companies use restricted stock units as part of executive compensation packages, leading to similar tax-related sales.
- The number of shares sold and the price are specific to Mr. Frinzi's situation and the company's stock performance.
Stakeholder Impact
- The sale of shares by the CEO may have a minor impact on the stock price, but it is not expected to be significant.
Key Dates
| Date | Description |
|---|---|
| 01/03/2023 | Date of the restricted stock unit award granted to Mr. Frinzi. |
| 01/03/2025 | Date of the stock sale by Mr. Frinzi. |
| 01/06/2025 | Date of the signature on the SEC Form 4 filing. |
Keywords
Staar Surgical, Thomas Frinzi, stock sale, insider trading, restricted stock units, tax withholding
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