Form 4: Viasat Executive Mark Miller Reports Stock Transactions
SEC Form 4 Filing
Viasat's EVP, Chief Technical Officer, Mark Miller, reports the acquisition and disposal of company stock and restricted stock units.
Summary
- Mark Miller, EVP and Chief Technical Officer at Viasat, reported several transactions involving Viasat stock on November 17, 2024.
- These transactions include the acquisition of 9,995 shares of common stock at $0, the disposal of 3,934 shares to cover tax obligations at $7.4 per share, and the transfer of 6,061 shares to a family trust.
- Additionally, 5,570 and 4,425 restricted stock units vested and converted to common stock, with some shares being withheld for tax purposes.
- Following these transactions, Miller directly owns 6,061 shares and indirectly owns 353,915 shares through a trust and 3,455 shares through a 401(k).
Sentiment
Score: 7
Explanation: The document is a routine disclosure of stock transactions, which is neither positive nor negative. The transactions are part of normal executive compensation and tax obligations.
Industry Context
This filing is a routine disclosure of stock transactions by a company executive, which is common practice for publicly traded companies. It provides transparency into the trading activities of company insiders.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies in the US, and Viasat's filing is consistent with these requirements.
- The vesting schedules for restricted stock units are typical for executive compensation packages in the technology industry.
- The tax withholding of shares is a common practice to cover tax obligations arising from the vesting of equity awards.
Stakeholder Impact
- The transactions have a minimal impact on shareholders as they are part of routine executive compensation.
- The tax withholding of shares does not impact the company's financials.
Key Dates
| Date | Description |
|---|---|
| 11/17/2020 | Original grant date for 22,281 restricted stock units, vesting over four years. |
| 11/17/2021 | Original grant date for 17,700 restricted stock units, vesting over four years. |
| 07/31/2024 | Date of purchase of 11 shares under the Viasat Employee Stock Purchase Plan. |
| 11/17/2024 | Date of reported stock and restricted stock unit transactions. |
| 11/19/2024 | Date of filing of the Form 4. |
Keywords
Viasat, stock transactions, insider trading, restricted stock units, Form 4, Mark Miller, executive compensation
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