Form 4: System1 General Counsel Sells Shares to Cover Tax Obligations

Daniel J Weinrot, General Counsel & Secretary of System1, Inc., sold 934 shares of Class A Common Stock to cover tax obligations related to vesting restricted stock units.

Summary

• On October 15, 2024, Daniel J Weinrot, General Counsel & Secretary of System1, Inc., disposed of 934 shares of Class A Common Stock.
• The shares were sold at a price of $1.12.
• This transaction was to cover the reporting person's tax withholding obligation with respect to the vesting of 1,842 restricted stock units (RSUs).
• Following the transaction, Weinrot directly owns 210,631 shares of Class A Common Stock, which includes 104,342 unvested RSUs.

Sentiment

Score: 5

Explanation: The document is a routine SEC filing related to an insider stock transaction for tax purposes, which is neither particularly positive nor negative.

Industry Context

Form 4 filings are standard disclosures required by the SEC when company insiders, like officers and directors, trade their company's stock. These filings provide transparency into insider transactions and are closely watched by investors.

Stakeholder Impact

• The transaction is unlikely to have a significant impact on stakeholders as it is a routine sale of shares to cover tax obligations.

Key Dates