Form 4: Symbotic Inc. Executive Michael Dunn Reports Stock Transactions
SEC Form 4 Filing
Michael Dunn, a Senior Vice President at Symbotic Inc., reported the vesting of restricted stock units and subsequent sale of shares to cover tax obligations.
Summary
- On July 1, 2024, Michael Dunn, Senior Vice President at Symbotic Inc., reported the vesting of 5,498 and 7,666 restricted stock units, which converted into Class A common stock on a one-for-one basis.
- Following the vesting, Dunn sold 4,934 shares on July 2, 2024, at an average price of $35.4574 and 254 shares at $36.16 to cover tax withholding obligations.
- These sales were mandated by Symbotic's equity incentive plans and do not represent discretionary trades by Dunn.
- After these transactions, Dunn directly owns 32,990 and 15,338 restricted stock units and indirectly owns 76,808 shares of Class A Common Stock through Dunn Family Holding LLC.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the document simply reports stock transactions related to executive compensation. There is no indication of positive or negative news.
Industry Context
This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. It provides transparency into the trading activities of company executives.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the increased number of shares sold in the market.
Key Dates
| Date | Description |
|---|---|
| August 17, 2022 | Reporting person was granted 87,970 and 92,000 restricted stock units. |
| January 1, 2023 | Vesting start date for restricted stock units granted on August 17, 2022. |
| July 1, 2024 | Vesting of 5,498 and 7,666 restricted stock units. |
| July 2, 2024 | Sale of 4,934 shares at $35.4574 and 254 shares at $36.16. |
| July 3, 2024 | Date of Form 4 signature. |
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