Form 4: TSS Inc. CFO John K. Penver Reports Tax-Related Share Surrender
SEC Form 4 Filing
John K. Penver, CFO of TSS, Inc., surrendered shares to cover tax obligations related to vesting restricted share awards on February 27, 2024.
Summary
- On February 27, 2024, John K. Penver, the Chief Financial Officer of TSS, Inc., engaged in a transaction involving the company's common stock.
- Penver surrendered 21,325 shares to the issuer to satisfy tax withholding obligations related to the vesting of restricted share awards.
- The price per share was $0.42.
- Following the transaction, Penver directly owns 911,089 shares of TSS, Inc. common stock.
Sentiment
Score: 7
Explanation: The document reflects a routine transaction related to executive compensation. It's neutral in nature, indicating standard operational procedures.
Management Comments
- No shares were sold; the transaction reflects shares surrendered to the Issuer to satisfy tax withholding obligations in connection with vesting of restricted share awards.
Industry Context
This is a routine transaction related to executive compensation and tax obligations. It is common for executives to surrender shares to cover taxes when restricted stock vests.
Key Dates
| Date | Description |
|---|---|
| 02/27/2024 | Date of the transaction where shares were surrendered to cover tax obligations. |
| 02/29/2024 | Date of signature for the Form 4 filing. |
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