Form 4: Symbotic CFO Carol J. Hibbard Reports Stock Sales to Cover Tax Obligations
SEC Form 4 Filing
Carol J. Hibbard, CFO of Symbotic Inc., reports the sale of Class A Common Stock to cover tax withholding obligations related to the vesting of restricted stock units.
Summary
- On November 3, 2024, Carol J. Hibbard, CFO of Symbotic Inc., reported transactions involving Class A Common Stock and Restricted Stock Units.
- Hibbard converted 57,009 Restricted Stock Units into Class A Common Stock on November 3, 2024.
- On November 5, 2024, Hibbard sold 1,280 shares at an average price of $28.3793 and 21,541 shares at an average price of $28.9962.
- These sales were mandated by Symbotic's equity incentive plans to cover tax withholding obligations.
- Following these transactions, Hibbard directly owns 34,188 shares of Class A Common Stock and 114,018 Restricted Stock Units.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the filing simply reports stock transactions to cover tax obligations, which is a common practice.
Industry Context
This filing is a routine disclosure of insider transactions, which are common occurrences in publicly traded companies. It provides transparency into the trading activities of company executives.
Stakeholder Impact
- The stock sales could have a minor impact on shareholders due to the increased supply of shares in the market, but the impact is likely minimal given the reason for the sales.
Key Dates
| Date | Description |
|---|---|
| 11/03/2023 | Reporting Person was granted 171,027 restricted stock units that vest as follows: 1/3 of the restricted stock units vest on November 3, 2024, and 1/12 of the restricted stock units vest quarterly thereafter. |
| 11/03/2024 | Conversion of 57,009 Restricted Stock Units into Class A Common Stock. |
| 11/05/2024 | Sale of 1,280 shares of Class A Common Stock at $28.3793 and 21,541 shares at $28.9962. |
| 11/06/2024 | Date of signature for the Form 4 filing. |
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