Form 4: Viasat Executive Palmer Exercises Stock Options, Disposes of Shares for Tax Obligations
SEC Form 4
Benjamin Edward Palmer, President of Maritime at Viasat, exercised stock options and disposed of shares to cover tax obligations on August 17, 2024.
Summary
- On August 17, 2024, Benjamin Edward Palmer, President of Maritime at Viasat Inc., exercised restricted stock units converting them into 5,000 shares of common stock.
- He also disposed of 2,250 shares at a price of $17.57 to satisfy tax withholding obligations.
- Following these transactions, Palmer directly owns 20,331 shares of Viasat common stock and 15,000 restricted stock units.
- The restricted stock units vest in four equal annual installments beginning on August 17, 2024.
Sentiment
Score: 5
Explanation: This is a neutral disclosure of insider transactions. It doesn't inherently indicate positive or negative sentiment about the company's performance.
Industry Context
This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. It provides transparency into the actions of company executives regarding their holdings of company stock.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders, as they are related to executive compensation and tax obligations.
Key Dates
| Date | Description |
|---|---|
| 08/17/2023 | Original award of 20,000 restricted stock units. |
| 05/30/2024 | Distribution of 17,581 shares previously held through Ogier Global Trustee (Jersey), Limited to the reporting person. |
| 08/17/2024 | Exercise of 5,000 restricted stock units and disposal of 2,250 shares for tax obligations. |
| 08/17/2024 | First vesting date for restricted stock units. |
| 08/19/2024 | Date of signature for the Form 4 filing. |
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