Form 4: Stellar Bancorp Executive Okan I. Akin Reports Tax Liability Share Withholding
SEC Form 4 Filing
Okan I. Akin, a Senior Executive VP and CRO at Stellar Bancorp, reported the withholding of shares to cover tax liabilities related to previously reported restricted stock vesting.
Summary
- On October 1, 2024, Okan I. Akin, a Senior Executive VP and CRO of Stellar Bancorp, had 1,463 shares of common stock withheld to cover tax liabilities.
- This withholding occurred in connection with the vesting of restricted shares previously reported.
- Following the transaction, Akin directly owns 80,200 shares of Stellar Bancorp common stock.
Sentiment
Score: 7
Explanation: The document is a standard SEC filing related to executive stock transactions. It doesn't contain any information that would significantly impact investor sentiment positively or negatively. It is a neutral event.
Industry Context
This is a routine filing related to executive compensation and tax obligations. It's common for company executives to have shares withheld to cover taxes upon the vesting of restricted stock units.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it relates to an individual executive's tax obligations.
Key Dates
| Date | Description |
|---|---|
| 10/01/2024 | Date of the transaction where 1,463 shares were withheld for tax liability. |
| 11/08/2024 | Date of signature on the Form 4 filing. |
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