Form 4: Symbotic Inc. Executive Michael Dunn Reports Stock Transactions
SEC Form 4 Filing
Michael Dunn, Chief Customer Officer of Symbotic Inc., reports the vesting and sale of Class A Common Stock to cover tax obligations.
Summary
- Michael Dunn, Chief Customer Officer of Symbotic Inc., filed a Form 4 detailing changes in beneficial ownership.
- On April 23, 2025, Dunn vested 4,413 and 1,187 restricted stock units, which converted into Class A common stock on a one-for-one basis.
- On April 24, 2025, Dunn sold 2,166 shares of Class A Common Stock at a price of $21.5964 to cover tax withholding obligations related to the vesting of restricted stock units.
- These sales were mandated by the Issuer's election under its equity incentive plans to require the satisfaction of a tax withholding obligation to be funded by a 'sell to cover' transaction.
- Following the reported transactions, Dunn directly owns 13,239 restricted stock units and 8,313 restricted stock units, and indirectly owns 27,256 shares through Dunn Family Holding LLC.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the filing simply reports routine stock transactions related to executive compensation and tax obligations.
Industry Context
Executive stock transactions are a common occurrence and are closely watched by investors for insights into management's perspective on the company's performance and future prospects.
Stakeholder Impact
- The transactions have a minimal impact on shareholders as they are related to executive compensation and tax obligations.
Key Dates
| Date | Description |
|---|---|
| 01/23/2023 | Reporting Person was granted 52,952 restricted stock units that vest as follows: 1/3 of the restricted stock units vest on January 23, 2024, and 1/12 of the restricted stock units vest quarterly thereafter |
| 01/23/2024 | The Reporting Person was granted 14,248 restricted stock units that vest as follows: 1/3 of the restricted stock units vest on January 23, 2025, and 1/12 of the restricted stock units vest quarterly thereafter |
| 04/23/2025 | Vesting of 4,413 and 1,187 restricted stock units. |
| 04/24/2025 | Sale of 2,166 shares of Class A Common Stock at $21.5964. |
| 04/25/2025 | Date of signature for the Form 4 filing. |
Keywords
Form 4, Symbotic Inc., Michael Dunn, Stock Transactions, Beneficial Ownership, Restricted Stock Units, Class A Common Stock, Tax Withholding
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