Form 4: Vita Coco Executive Chairman Michael Kirban Disposes of Shares to Cover Tax Obligations
SEC Form 4
Michael Kirban, Executive Chairman of Vita Coco Company, Inc., disposed of 4,371 shares of common stock to cover tax withholding obligations related to the vesting and settlement of Restricted Stock Units.
Summary
- On March 4, 2025, Michael Kirban, the Executive Chairman of Vita Coco Company, Inc., disposed of 4,371 shares of common stock at a price of $33.36 per share.
- This transaction was to cover tax withholding obligations associated with the vesting and settlement of Restricted Stock Units.
- Following the transaction, Kirban directly owns 127,629 shares of common stock.
- Kirban also indirectly owns 2,026,229 shares through the Michael Kirban 2010 Trust and 615,681 shares through the Michael Kirban Revocable Trust.
- Kirban also holds multiple non-qualified stock options with varying exercise prices and vesting schedules.
Sentiment
Score: 5
Explanation: This is a neutral disclosure of a routine transaction related to tax obligations. It doesn't indicate any positive or negative sentiment about the company's performance.
Industry Context
This filing is a routine disclosure related to executive compensation and tax obligations. It's common for executives to sell shares to cover taxes associated with vesting equity.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a small percentage of the total shares outstanding and is related to tax obligations.
Key Dates
| Date | Description |
|---|---|
| 11/27/2022 | Start date for vesting of stock options priced at $15 in four equal annual installments. |
| 03/10/2024 | Start date for vesting of stock options priced at $16.91 in four equal annual installments. |
| 03/04/2025 | Date of stock disposal to cover tax obligations; Start date for vesting of stock options priced at $26.18 in four equal annual installments. |
| 03/03/2026 | Start date for vesting of stock options priced at $32.78 in four equal annual installments. |
| 12/16/2029 | Expiration date for fully vested stock options priced at $10.178. |
| 01/11/2031 | Expiration date for fully vested stock options priced at $10.178. |
| 10/21/2031 | Expiration date for stock options priced at $15. |
| 03/10/2033 | Expiration date for stock options priced at $16.91. |
| 03/04/2034 | Expiration date for stock options priced at $26.18. |
| 03/03/2035 | Expiration date for stock options priced at $32.78. |
| 03/06/2025 | Date of Form 4 filing. |
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