Form 4: Star Equity Holdings CEO Acquires Shares Through Vesting of Restricted Stock Units
SEC Form 4 Filing
Richard K. Coleman Jr., CEO of Star Equity Holdings, acquired 5,053 shares of common stock on July 27, 2024, through the vesting of restricted stock units.
Summary
- On July 27, 2024, Richard K. Coleman Jr., the CEO of Star Equity Holdings, acquired 5,053 shares of common stock due to the vesting of restricted stock units.
- These restricted stock units are part of a grant of 15,155 units (adjusted for a 1-for-5 reverse stock split) awarded on July 27, 2023.
- The grant vests in three equal installments: one-third vested on July 27, 2024, another third is scheduled to vest on July 27, 2025, and the final third on July 27, 2026, contingent upon continued service.
- Following the transaction, Coleman directly owns 34,067 shares of common stock and 10,102 restricted stock units.
Sentiment
Score: 6
Explanation: The sentiment is neutral as it reflects a routine transaction related to executive compensation. The vesting of shares is a positive sign of continued service, but it's not a major event that would significantly impact investor sentiment.
Positives
- The vesting of restricted stock units aligns the CEO's interests with those of the shareholders, incentivizing continued service and performance.
Future Outlook
The remaining restricted stock units are scheduled to vest in two equal installments on July 27, 2025, and July 27, 2026, subject to the Reporting Person continuing to provide service through such date.
Industry Context
Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.
Stakeholder Impact
- The vesting of restricted stock units aligns the CEO's interests with those of the shareholders.
Key Dates
| Date | Description |
|---|---|
| July 27, 2023 | Reporting Person was granted 15,155 Restricted Stock Units (after giving effect to the Reverse Stock Split). |
| July 27, 2024 | One-third of the Restricted Stock Units vested. |
| July 27, 2025 | One-third of the Restricted Stock Units are scheduled to vest. |
| July 27, 2026 | One-third of the Restricted Stock Units are scheduled to vest. |
| July 31, 2024 | Date of signature on the Form 4 filing. |
Keywords
Star Equity Holdings, Richard K. Coleman Jr., CEO, restricted stock units, STRR, Form 4, beneficial ownership, vesting, common stock
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