Form 4: Synchronoss Technologies EVP Patrick Joseph Doran Sells Shares to Cover Tax Obligations

Patrick Joseph Doran, EVP & Chief Technology Officer of Synchronoss Technologies, sold 1,751 shares of common stock on April 28, 2025, to cover tax obligations related to vesting shares.

Summary

• Patrick Joseph Doran, the EVP & Chief Technology Officer of Synchronoss Technologies Inc. (SNCR), reported a transaction involving the sale of company stock.
• On April 28, 2025, Doran sold 1,751 shares of common stock at a price of $10.68 per share.
• The sale was executed under an approved Rule 10b5-1 trading plan.
• The purpose of the sale was to cover tax obligations associated with the vesting of restricted stock.
• Following the transaction, Doran still beneficially owns 168,436 shares of Synchronoss Technologies Inc.

Sentiment

Score: 5

Explanation: This is a neutral event. An executive selling shares to cover taxes is a common occurrence and doesn't necessarily indicate a negative outlook on the company.

Industry Context

This is a routine Form 4 filing, indicating an insider transaction. It's common for executives to sell shares to cover tax obligations, especially after stock vesting.

Stakeholder Impact

• The sale of shares by an executive could have a minor impact on shareholder sentiment, but is unlikely to be significant given the reason for the sale.

Key Dates

Keywords

Synchronoss Technologies, SNCR, Patrick Joseph Doran, stock sale, Form 4, Rule 10b5-1, tax obligations, insider trading