Form 4: Trinity Capital CEO Kyle Brown Reports Stock Transactions
SEC Form 4 Filing
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 September 13, 2024, Trinity Capital Inc.'s CEO, Kyle Steven Brown, reported a transaction involving common stock.
- 18,028 shares were disposed of at a price of $13.98 to satisfy tax obligations related to the vesting of restricted shares.
- Following the transaction, Mr. Brown directly owns 957,270 shares.
- He also indirectly owns 51,819 shares through The Kyle and Amy Brown Family Trust and 10,825 shares through KBIZ Corp.
- The reported holdings include shares acquired through Trinity Capital Inc.'s distribution reinvestment plan and shares issued under the 2019 Trinity Capital Inc. Long Term Incentive Plan (LTIP) with varying vesting schedules.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing stock transactions. It doesn't inherently convey positive or negative sentiment.
Industry Context
Form 4 filings are standard disclosures required by the SEC for insiders, providing transparency into their transactions and holdings in the company's stock.
Stakeholder Impact
- The transaction has a minor impact on shareholders as it involves the CEO's personal stock holdings and 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 |
| September 13, 2024 | Date of the reported stock transaction where 18,028 shares were disposed of to cover tax obligations. |
| September 18, 2024 | Date of the Form 4 filing. |
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