Form 4: Trinity Capital Executive Chairman Sells Shares to Cover Tax Obligations
SEC Form 4
Trinity Capital's Executive Chairman, Steve Louis Brown, sold 11,490 shares to cover tax obligations related to vesting restricted shares.
Summary
- Steve Louis Brown, the Executive Chairman of Trinity Capital Inc., sold 11,490 shares of common stock on December 13, 2024.
- The sale was executed at a price of $14.6 per share.
- This transaction was to cover tax obligations related to the vesting of restricted shares.
- Following the transaction, Mr. Brown directly owns 710,692 shares and indirectly owns 540,746 shares through The Steven and Patricia Brown Family Trust.
- The indirectly held shares are from the 2019 Trinity Capital Inc. Long Term Incentive Plan (LTIP) and vest over time.
Sentiment
Score: 5
Explanation: The document describes a routine transaction for tax purposes, not indicative of any positive or negative sentiment.
Industry Context
Insider transactions are a normal part of corporate activity, and this sale appears to be for tax purposes related to vesting shares.
Comparison to Industry Standards
- Executive share sales for tax purposes are common across the industry.
- The vesting schedules described are typical for long-term incentive plans.
- The transaction is consistent with standard practices for executive compensation and share ownership.
Stakeholder Impact
- The transaction is unlikely to have a significant impact on stakeholders as it is a routine sale for tax purposes.
Key Dates
| Date | Description |
|---|---|
| March 19, 1998 | Date of The Steven and Patricia Brown Family Trust. |
| June 2, 2021 | Date of power of attorney granted to Sarah Stanton. |
| September 15, 2021 | Date of issuance of 204,793 shares under the LTIP, vesting quarterly. |
| March 15, 2022 | Date of issuance of 219,653 shares under the LTIP, vesting quarterly. |
| March 15, 2023 | Date of issuance of 219,653 shares under the LTIP, vesting quarterly. |
| March 15, 2024 | Date of issuance of 162,162 shares under the LTIP, vesting quarterly. |
| December 13, 2024 | Date of the share sale transaction. |
| December 17, 2024 | Date of the form filing. |
Keywords
Trinity Capital, Steve Louis Brown, share sale, insider trading, executive chairman, stock transaction, restricted shares, tax obligations, LTIP
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