Form 4: Sun Country Airlines Executive Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Grant Whitney, Chief Revenue Officer & SVP of Sun Country Airlines Holdings, Inc., sold shares of common stock on April 1st and 2nd, 2025, to cover tax withholding obligations related to vesting restricted stock units.
Summary
- Grant Whitney, Chief Revenue Officer & SVP of Sun Country Airlines Holdings, Inc., reported the sale of Sun Country Airlines Holdings, Inc. common stock.
- On April 1, 2025, 404 shares were sold at a price of $12.0567 per share.
- On April 2, 2025, 883 shares were sold at a price of $11.38 per share.
- These transactions were executed to cover tax withholding obligations associated with the vesting of restricted stock units.
- Following these transactions, Whitney directly owns 28,086 shares of Sun Country Airlines Holdings, Inc. common stock.
- The sale on April 2, 2025, was effected pursuant to a Rule 10b5-1 trading plan adopted on March 4, 2024.
Sentiment
Score: 6
Explanation: The sentiment is neutral. The filing simply reports stock sales for tax purposes under a pre-existing plan, which is a routine event.
Positives
- The sales were part of a pre-arranged Rule 10b5-1 trading plan, indicating they were planned in advance and not based on current market sentiment.
Industry Context
Executive stock sales are a common occurrence and are often related to personal financial planning or tax obligations. The use of a 10b5-1 trading plan suggests the sales were pre-planned and not based on inside information.
Comparison to Industry Standards
- Executive stock sales are a normal part of corporate governance.
- Companies like Southwest, Delta, and United Airlines also see regular Form 4 filings from their executives.
- The amounts sold are relatively small compared to the total outstanding shares, suggesting no major concern.
Stakeholder Impact
- The stock sales are unlikely to have a significant impact on shareholders, employees, customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| 2024/03/04 | Date of adoption of the Rule 10b5-1 trading plan. |
| 2025/04/01 | Date of first stock sale (404 shares at $12.0567). |
| 2025/04/02 | Date of second stock sale (883 shares at $11.38). |
| 2025/04/03 | Date of signature on the Form 4 filing. |
Keywords
Sun Country Airlines Holdings, Grant Whitney, stock sale, Form 4, Rule 10b5-1, tax withholding, restricted stock units
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