Form 4: Unifi Inc. Executive Chairman Sells Shares to Cover Tax Obligations

Unifi Inc.'s Executive Chairman, Albert P. Carey, sold 3,007 shares of common stock to cover tax obligations related to a previous vesting of restricted stock units.

Summary

• Albert P. Carey, the Executive Chairman of Unifi Inc., sold 3,007 shares of common stock on November 21, 2024.
• The sale was executed at a price of $5.75 per share.
• This transaction was to cover tax withholding obligations related to the vesting of restricted stock units granted in 2022.
• Following the transaction, Mr. Carey directly owns 240,056 shares of Unifi Inc. common stock.

Sentiment

Score: 5

Explanation: This is a neutral event, a routine transaction for tax purposes, and does not indicate any positive or negative sentiment about the company's performance.

Industry Context

This is a routine transaction for executives who receive stock-based compensation. It is common for executives to sell shares to cover tax obligations when restricted stock units vest.

Comparison to Industry Standards

• Sales of shares by executives to cover tax obligations are a common practice across publicly traded companies.
• The number of shares sold is relatively small compared to the total holdings of the executive, which is typical for these types of transactions.
• Similar transactions can be seen at companies like Nike, where executives regularly sell shares to cover tax liabilities related to stock awards.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a small sale by an executive for tax purposes.

Key Dates

Keywords

Unifi Inc, insider trading, stock sale, executive chairman, Albert P. Carey, tax obligations, restricted stock units