Form 4: Turtle Beach CFO John T. Hanson Reports Stock Transactions
SEC Form 4 Filing
John T. Hanson, CFO and Treasurer of Turtle Beach Corp, reports the conversion of performance and restricted stock units into common stock, along with tax withholding, resulting in adjustments to his beneficial ownership.
Summary
- On April 1, 2024, John T. Hanson, CFO and Treasurer of Turtle Beach Corp, executed multiple transactions involving the conversion of performance stock units and restricted stock units into common stock.
- These conversions were related to performance criteria achieved under the Turtle Beach Corporation Stock Based 2023 Incentive Compensation Plan.
- A total of 34,185 performance and restricted stock units were converted into common stock.
- Additionally, 18,261 shares were withheld to satisfy tax obligations related to the vesting of deferred stock.
- Following these transactions, Hanson's directly owned common stock holdings amount to 68,728 shares.
- Hanson also holds derivative securities including stock options and restricted stock units.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions, and does not contain information that would significantly sway investor sentiment positively or negatively.
Industry Context
This filing is a routine disclosure of insider transactions, which are common in publicly traded companies as part of executive compensation packages.
Stakeholder Impact
- The transactions may have a minor dilutive effect on existing shareholders due to the issuance of new shares.
Key Dates
| Date | Description |
|---|---|
| 04/01/2021 | Date of grant for one-third of performance stock units under the Turtle Beach Corporation Stock Based 2023 Incentive Compensation Plan. |
| 04/01/2022 | Date of grant for one-third of performance stock units under the Turtle Beach Corporation Stock Based 2023 Incentive Compensation Plan. |
| 04/01/2023 | Date of grant for one-third of performance stock units under the Turtle Beach Corporation Stock Based 2023 Incentive Compensation Plan. |
| 11/13/2027 | Expiration date for some stock options. |
| 04/11/2028 | Expiration date for some stock options. |
| 04/01/2029 | Expiration date for some stock options. |
| 04/01/2030 | Expiration date for some stock options. |
| 04/01/2024 | Date of transactions: conversion of performance and restricted stock units to common stock, vesting of restricted stock units. |
| 04/03/2024 | Date of filing the Form 4. |
| 04/01/2025 | Vesting date for some restricted stock units. |
| 04/01/2026 | Vesting date for some restricted stock units. |
| 04/01/2027 | Vesting date for some restricted stock units. |
| 04/01/2028 | Vesting date for some restricted stock units. |
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