Form 4: Trinity Capital Executive Chairman Steve Brown Reports Tax-Related Share Withholding
SEC Form 4 Filing
Steve Brown, Executive Chairman of Trinity Capital Inc., reports the withholding of shares to cover tax obligations related to vesting restricted shares.
Summary
- On June 14, 2024, Steve Brown, the Executive Chairman of Trinity Capital Inc., had 18,632 shares of common stock withheld to satisfy tax obligations related to the vesting of restricted shares.
- Following this transaction, Brown directly owns 721,464 shares of Trinity Capital Inc.
- He also indirectly owns 540,746 shares through The Steven and Patricia Brown Family Trust.
Sentiment
Score: 5
Explanation: This is a neutral report on a routine transaction (tax-related share withholding). It doesn't inherently indicate positive or negative sentiment.
Industry Context
Form 4 filings are standard disclosures required by the SEC for insiders of publicly traded companies, providing transparency into their transactions in the company's stock.
Stakeholder Impact
- The transaction has a minimal direct impact on stakeholders, as it is a standard procedure for covering tax obligations.
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 shares issued under the LTIP, which shares began vesting quarterly pro rata over the twelve full calendar quarters immediately following September 15, 2021 |
| 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 transaction: shares withheld for tax obligations. |
| June 18, 2024 | Date of signature for the Form 4 filing. |
| March 15, 2025 | 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 |
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