Form 4: Vestis Corp Executive Timothy Donovan Reports Changes in Beneficial Ownership
SEC Form 4
EVP, CLO and General Counsel of Vestis Corp, Timothy Donovan, reports acquisition and disposal of common stock due to dividend equivalent restricted stock units and tax withholding.
Summary
- On October 3, 2024, Timothy Donovan, EVP, CLO and General Counsel of Vestis Corp, reported changes in beneficial ownership of Vestis Corp [VSTS] common stock.
- Donovan acquired 72.772 shares of common stock at $0 due to the accrual of additional restricted stock units and distribution of shares in connection with the Issuer's quarterly dividend on previously awarded restricted stock units.
- Concurrently, Donovan disposed of 6 shares at $14.83 to cover taxes related to the vesting of dividend equivalent restricted stock units.
- Following these transactions, Donovan beneficially owns 46,695.791 shares of Vestis Corp common stock.
Sentiment
Score: 5
Explanation: Neutral sentiment as the filing reflects routine transactions related to executive compensation.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders as they relate to executive compensation and tax obligations.
Key Dates
| Date | Description |
|---|---|
| 10/03/2024 | Date of transaction: acquisition and disposal of shares. |
| 10/07/2024 | Date of signature on the report. |
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