Form 4: Stem Inc. COO Michael Carlson Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Stem Inc.'s Chief Operating Officer, Michael James Carlson, sold shares of common stock to cover tax liabilities related to a previous share issuance.
Summary
- On March 8, 2024, Michael James Carlson, the Chief Operating Officer of Stem Inc., sold 35,269 shares of common stock at a price of $2.19 per share.
- The sale was executed to cover the reporting person's tax liability in connection with the issuance of shares previously reported on March 5, 2024.
- Following the transaction, Carlson directly owns 73,903 shares of Stem Inc.
- Carlson has granted limited power of attorney to Saul R. Laureles and Chen Zhang to handle SEC filings related to his transactions in Stem Inc. securities.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing related to stock transactions by a company insider. It doesn't inherently indicate positive or negative sentiment, as it's a standard procedure for covering tax obligations.
Industry Context
Form 4 filings are standard practice and provide transparency into the transactions of company insiders, allowing investors to track management's sentiment and actions regarding their company's stock.
Stakeholder Impact
- The sale of shares by a company insider could be perceived negatively by some shareholders, although this transaction is explicitly stated to be for covering tax obligations.
Key Dates
| Date | Description |
|---|---|
| 2023-10-06 | Date of the Limited Power of Attorney agreement. |
| 2024-03-05 | Date of the Form 4 filing related to the issuance of shares that triggered the tax liability. |
| 2024-03-08 | Date of the transaction where shares were sold to cover tax liability. |
| 2024-03-12 | Date of signature for the Form 4 filing. |
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