Form 4: TSS Inc. COO Karl Todd Marrott Executes Stock Option and Disposes of Shares
SEC Form 4 Filing
TSS, Inc. Chief Operating Officer Karl Todd Marrott exercised stock options and disposed of shares to cover tax obligations.
Summary
- On September 3, 2024, Karl Todd Marrott, the Chief Operating Officer of TSS, Inc. (TSSI), exercised stock options to acquire 66,666 shares of common stock at a price of $0.60 per share.
- Following the exercise, Marrott disposed of 22,225 shares of common stock at a price of $5.05 per share to satisfy tax obligations.
- After these transactions, Marrott directly owns 165,766 shares of TSS, Inc. common stock and holds options for 133,334 shares.
Sentiment
Score: 5
Explanation: This is a routine disclosure of stock transactions by a company executive. It doesn't inherently indicate positive or negative sentiment, but rather provides factual information.
Industry Context
Form 4 filings are standard disclosures required by the SEC when corporate insiders, like the COO, trade their company's stock. These filings provide transparency to the market regarding the transactions of company executives and directors.
Stakeholder Impact
- Shareholders are informed about the COO's stock transactions, providing transparency into executive compensation and ownership.
Key Dates
| Date | Description |
|---|---|
| 11/02/2023 | Date Employee Stock Option Exercisable |
| 09/03/2024 | Date of stock option exercise and share disposal |
| 09/05/2024 | Date of Form 4 signature |
| 11/02/2032 | Date Employee Stock Option Expiration |
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