Form 4: SuRo Capital Corp. CEO Mark Klein Reports Share Transactions
Insider Transaction Report
SuRo Capital Corp.'s CEO, Mark Klein, reports the vesting of restricted shares and associated tax withholdings.
Summary
- Mark Klein, Chairman, CEO, and President of SuRo Capital Corp., reported transactions involving the company's common stock.
- On December 10, 2024, Mr. Klein acquired 100,000 shares of common stock.
- Also on December 10, 2024, 21,272 shares were withheld to cover tax obligations related to the vesting of restricted shares.
- Mr. Klein's total holdings include 1,270,666 shares of common stock, including shares owned by his spouse and restricted shares granted under the company's equity incentive plan.
- The restricted shares vest in three equal installments on December 10, 2025, December 10, 2026, and December 10, 2027.
Sentiment
Score: 7
Explanation: The document reflects standard insider transactions and vesting of shares, which is generally neutral to positive. The CEO's acquisition of shares could be seen as a positive sign.
Positives
- The acquisition of 100,000 shares by the CEO could be seen as a positive sign of confidence in the company's future.
Future Outlook
The document outlines the vesting schedule for restricted shares, indicating future share releases on December 10th of 2025, 2026, and 2027.
Management Comments
- Mark D. Klein signed the report on December 12, 2024.
Industry Context
This type of filing is standard for corporate insiders and provides transparency into their transactions in company stock. It is common for executives to receive stock-based compensation, and the vesting schedules are typical for such grants.
Comparison to Industry Standards
- The vesting schedule of 1/3 each year for three years is a common practice in equity compensation plans.
- Many companies use similar equity incentive plans to align management's interests with those of shareholders.
- The reporting of insider transactions is a standard regulatory requirement for publicly traded companies, such as SuRo Capital Corp.
Related Party Transactions
- The report mentions that 14,659 shares of the company's common stock are owned by Mr. Klein's spouse, which may be deemed to be beneficially owned by Mr. Klein.
Stakeholder Impact
- The share transactions by the CEO provide transparency to shareholders regarding insider activity.
- The vesting of restricted shares is part of the executive compensation plan, which impacts both management and shareholders.
Key Dates
| Date | Description |
|---|---|
| 2022-02-09 | Date of a previous restricted share grant to Mark Klein under the SuRo Capital Corp. Amended and Restated 2019 Equity Incentive Plan. |
| 2023-12-15 | Date of a previous restricted share grant to Mark Klein under the SuRo Capital Corp. Amended and Restated 2019 Equity Incentive Plan. |
| 2024-12-10 | Date of the reported share acquisition, tax withholding, and vesting of restricted shares. |
| 2025-12-10 | First vesting date for 1/3 of the restricted shares granted to Mark Klein. |
| 2026-12-10 | Second vesting date for 1/3 of the restricted shares granted to Mark Klein. |
| 2027-12-10 | Final vesting date for 1/3 of the restricted shares granted to Mark Klein. |
| 2024-12-12 | Date of the filing of the report. |
Keywords
SuRo Capital Corp, Mark Klein, common stock, restricted shares, equity incentive plan, vesting, tax obligations, share transactions
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