Form 4: Viavi Solutions Executive McNab Paul Reports Stock Transactions
SEC Form 4 Filing
EVP, Chief Marketing & Strategy Officer of Viavi Solutions, Paul McNab, reports the vesting of market stock units and subsequent tax withholding, resulting in changes to his beneficial ownership of company stock.
Summary
- On September 24, 2024, Paul McNab, EVP, Chief Marketing & Strategy Officer of Viavi Solutions, reported transactions involving common stock and market stock units (MSUs).
- The transactions included the vesting of MSUs granted on August 28, 2021, August 28, 2022, and August 28, 2023, which converted into common stock.
- A portion of the shares were retained by the company to cover tax withholding obligations related to the vesting of the market stock awards at a price of $8.73.
- Following these transactions, McNab's direct ownership of Viavi Solutions common stock is 40,052 shares and 25,758 Market Stock Units.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions, with no inherent positive or negative sentiment.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders and their holdings in the company.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in ownership, but the effect is likely minimal.
Key Dates
| Date | Description |
|---|---|
| 08/28/2021 | Date of grant for market-leveraged stock units, 3rd tranche vesting on 09/24/2024. |
| 08/28/2022 | Date of grant for market-leveraged stock units, 2nd tranche vesting on 09/24/2024. |
| 08/28/2023 | Date of grant for market-leveraged stock units, 1st tranche vesting on 09/24/2024. |
| 09/24/2024 | Date of stock transactions: vesting of market stock units and tax withholding. |
| 09/26/2024 | Date of signature for the Form 4 filing. |
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