Form 4: Trinity Capital CEO Kyle Brown Reports Share Transactions
SEC Form 4
CEO Kyle Brown reports disposition of shares to cover tax obligations and details beneficial ownership including shares held directly, through a family trust, and via KBIZ Corp.
Summary
- On June 14, 2024, Kyle Brown, CEO, President, and CIO of Trinity Capital Inc., reported a transaction involving common stock.
- 18,026 shares were disposed of to satisfy tax obligations related to the vesting of restricted shares at a price of $14.82 per share.
- Following the transaction, Mr. Brown directly owns 971,798 shares.
- He also indirectly owns 51,819 shares through The Kyle and Amy Brown Family Trust and 10,825 shares through KBIZ Corp.
- The report also details the vesting schedule of shares issued under the 2019 Trinity Capital Inc. Long Term Incentive Plan (LTIP).
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing share transactions, so the sentiment is neutral.
Industry Context
Form 4 filings are standard practice for reporting insider transactions and are a regular part of maintaining transparency in publicly traded companies.
Stakeholder Impact
- The transaction may have a minor impact on shareholders due to the change in ownership, but it is primarily related to tax obligations.
Key Dates
| Date | Description |
|---|---|
| February 4, 2019 | Date of The Kyle and Amy Brown Family Trust |
| September 17, 2021 | Date of power of attorney granted to Sarah Stanton |
| September 15, 2021 | Date of shares issued under the LTIP, which began vesting quarterly pro rata over the twelve full calendar quarters immediately following |
| March 15, 2022 | Date of shares issued under the LTIP, which shares vested 25% on March 15, 2023, with the remaining 75% of such shares vesting pro rata over the twelve full calendar quarters following March 15, 2023 |
| March 15, 2023 | Date of shares issued under the LTIP, which shares vested 25% on March 15, 2024, with the remaining 75% of such shares vesting pro rata over the twelve full calendar quarters immediately following March 15, 2024 |
| March 15, 2024 | Date of shares issued under the LTIP, which shares vest 25% on March 15, 2025, with the remaining 75% of such shares vesting pro rata over the twelve full calendar quarters immediately following March 15, 2025 |
| June 14, 2024 | Date of the reported transaction where shares were withheld to satisfy tax obligations. |
| June 18, 2024 | Date of signature for the Form 4 filing. |
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