Form 4: Verint Systems CEO Dan Bodner Reports Stock Sales Following PSU Vesting
SEC Form 4 Filing
Verint Systems CEO Dan Bodner sold shares to cover tax obligations after performance-based stock units vested.
Summary
- Dan Bodner, Chairman & CEO of Verint Systems Inc., reported transactions involving the company's common stock.
- On April 12, 2024, performance-based stock units (PSUs) vested, resulting in the acquisition of 50,658 shares and 31,281 shares.
- These PSUs vested based on the company's achievement of specified performance goals over different periods and the filing of the Annual Report on Form 10-K for the year ended January 31, 2024.
- On April 15, 2024, Bodner sold 40,026 shares at a weighted average price of $30.09 per share to satisfy tax withholding obligations related to the PSU vesting.
- Additionally, 4,309 shares were sold at a weighted average price of $30.09 per share to cover tax withholding from the vesting of previously disclosed restricted stock units on April 12, 2024.
- Following these transactions, Bodner directly owns 898,234 shares of Verint Systems Inc. common stock.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing detailing stock transactions by an insider. It doesn't inherently convey positive or negative sentiment, as the sales are related to tax obligations.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the trading activities of company insiders. These filings are closely watched by investors seeking insights into management's perspective on the company's stock.
Stakeholder Impact
- The stock sales could have a minor, temporary impact on the stock price due to increased selling pressure.
Key Dates
| Date | Description |
|---|---|
| 04/25/2022 | Start date of performance period for one PSU award. |
| 02/01/2023 | Start date of performance period for another PSU award. |
| 01/31/2024 | Year end date for the company's Annual Report on Form 10-K. |
| 04/12/2024 | PSU awards vested. |
| 04/15/2024 | Shares sold to cover tax obligations. |
| 04/16/2024 | Date of Form 4 filing. |
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