Form 4: TSS Inc. CFO Reports Routine Stock Transaction for Tax Withholding

TSS Inc.'s Chief Financial Officer, Daniel M. Chism, reported a disposition of 20,755 shares of common stock to satisfy tax withholding obligations related to restricted stock vesting.

Summary

• Daniel M. Chism, Chief Financial Officer of TSS, Inc., filed a Form 4 reporting a change in beneficial ownership.
• On June 7, 2025, Mr. Chism disposed of 20,755 shares of TSS, Inc. Common Stock.
• The disposition was made at a price of $19.84 per share.
• This transaction reflects shares surrendered to the Issuer to satisfy tax withholding obligations in connection with the vesting of restricted stock share awards.
• No shares were sold in the open market.
• Following this transaction, Mr. Chism beneficially owns 326,219 shares of TSS, Inc. Common Stock.

Sentiment

Score: 5

Explanation: The sentiment is neutral as this is a routine, non-discretionary transaction related to tax withholding on vested restricted stock, which is a common occurrence for executives.

Positives

• The transaction indicates the vesting of previously granted restricted stock awards, which can be a positive sign of executive compensation and retention.

Negatives

• None directly from this routine tax-related transaction.

Risks

• None directly mentioned in this Form 4 filing, as it primarily reports a transaction.

Future Outlook

The document does not provide any forward-looking statements or guidance regarding the company's future performance or outlook.

Management Comments

• The explanation states: 'Reflects shares surrendered to the Issuer to satisfy tax withholding obligations in connection with the vesting of restricted stock share awards. No shares were sold.'

Industry Context

This Form 4 filing is a routine disclosure of an insider's equity transaction, specifically related to the vesting of restricted stock and subsequent tax withholding. It does not provide information relevant to broader industry trends or competitive dynamics.

Comparison to Industry Standards

• The practice of surrendering shares to cover tax obligations upon the vesting of restricted stock is a standard and common procedure for executive compensation across various industries and is not indicative of specific company performance relative to peers.

Stakeholder Impact

• Shareholders: This is a routine transaction and is unlikely to have a significant direct impact on shareholders, as it is not an open market sale.
• Employees: The vesting of restricted stock awards is a common form of employee compensation, indicating the fulfillment of equity incentives.

Key Dates

Keywords

TSS Inc., TSSI, Form 4, insider transaction, beneficial ownership, restricted stock, tax withholding, CFO, Daniel M. Chism