Form 4: Synchronoss Technologies EVP Patrick Doran Sells 700 Shares to Cover Tax Obligations
SEC Form 4 Filing
Patrick Joseph Doran, EVP & Chief Technology Officer of Synchronoss Technologies, sold 700 shares of common stock on April 10, 2024, to cover tax obligations associated with vesting of shares of Restricted Stock.
Summary
- On April 10, 2024, Patrick Joseph Doran, the EVP & Chief Technology Officer of Synchronoss Technologies Inc. (SNCR), sold 700 shares of the company's common stock.
- The sale was executed at a price of $7.68 per share.
- The transaction was conducted under an approved Rule 10b5-1 trading plan.
- The purpose of the sale was to cover tax obligations related to the vesting of restricted stock.
- Following the transaction, Doran directly owns 68,608 shares of Synchronoss Technologies Inc.
Sentiment
Score: 5
Explanation: The document describes a routine transaction (stock sale for tax purposes) and doesn't contain any information that would significantly impact investor sentiment positively or negatively.
Industry Context
Executive stock sales are a common occurrence, often related to compensation and tax planning. The use of a 10b5-1 trading plan suggests the sale was pre-planned and not based on inside information.
Key Dates
| Date | Description |
|---|---|
| 04/10/2024 | Date of the stock sale transaction. |
| 04/12/2024 | Date of signature on the Form 4 filing. |
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