Form 4: Trinity Place Holdings CFO Steven Kahn Reports Stock Transactions
SEC Form 4
Chief Financial Officer of Trinity Place Holdings, Steven Kahn, reports the vesting and settlement of restricted stock units, resulting in changes in his beneficial ownership of company stock.
Summary
- On January 2, 2025, Steven Kahn, the CFO of Trinity Place Holdings Inc., reported transactions involving restricted stock units (RSUs).
- 22,500 RSUs vested and were settled on January 2, 2025, converting into common stock.
- An additional 25,000 RSUs also vested and were settled on the same date.
- These transactions resulted in the acquisition of 47,500 shares of common stock and the disposal of shares to cover tax obligations.
- Following these transactions, Kahn directly owns 178,220 shares of Trinity Place Holdings Inc. common stock.
Sentiment
Score: 5
Explanation: This is a routine filing related to stock transactions by a company insider. It doesn't inherently indicate positive or negative sentiment, but rather provides factual information about ownership changes.
Future Outlook
25,000 RSUs are scheduled to vest on January 1, 2026, contingent upon the reporting person's continued employment with the company.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders and their holdings in the company's stock.
Stakeholder Impact
- Shareholders are informed about changes in beneficial ownership by a key executive.
- Employees may be impacted by the vesting schedule of RSUs, particularly regarding continued employment requirements.
Key Dates
| Date | Description |
|---|---|
| 01/03/2023 | Reporting person was granted 45,000 RSUs. |
| 01/02/2024 | Reporting person was granted 50,000 RSUs. |
| 01/01/2024 | 22,500 of the 45,000 RSUs granted on 01/03/2023 vested. |
| 01/01/2025 | 22,500 of the 45,000 RSUs granted on 01/03/2023 vested, 25,000 of the 50,000 RSUs granted on 01/02/2024 vested. |
| 01/02/2025 | Settlement of the RSUs that vested on January 1, 2025 occurred. |
| 01/03/2025 | Date of signature for the Form 4 filing. |
| 01/01/2026 | 25,000 RSUs will vest, subject to the reporting person's continued employment. |
Keywords
Form 4, Beneficial Ownership, Steven Kahn, Trinity Place Holdings, TPHS, Restricted Stock Units, CFO, Vesting, Settlement, Common Stock
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