Form 4: World Kinect Corp Executive Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Jose-Miguel Tejada, SVP and Chief Accounting Officer of World Kinect Corp, disposed of shares to cover tax liabilities related to vested restricted stock units.
Summary
- On November 8, 2024, Jose-Miguel Tejada, SVP and Chief Accounting Officer of World Kinect Corp, disposed of 435 and 462 shares of common stock to cover tax obligations.
- These shares were withheld by the issuer to cover tax liabilities associated with 1,388 and 1,471 restricted stock units that vested and settled on the same date.
- The transactions were executed at a price of $27.99 per share, which was the closing price of World Kinect Corp's common stock on the NYSE on November 8, 2024.
- Following the transactions, Tejada directly owns 33,358 shares of World Kinect Corp.
- A power of attorney was granted to Joel M. Williams and Mark D. Gross, effective August 13, 2024, to handle SEC filings on behalf of Jose-Miguel Tejada.
Sentiment
Score: 5
Explanation: This is a neutral event. It reflects routine tax management related to executive compensation.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates a standard practice of covering tax obligations related to vested equity.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a standard procedure for covering tax obligations.
Key Dates
| Date | Description |
|---|---|
| 2024-08-13 | Effective date of Power of Attorney granted to Joel M. Williams and Mark D. Gross. |
| 2024-11-08 | Date of transaction: Restricted stock units vested and shares were withheld to cover tax liability. |
| 2024-11-12 | Date of signature for the Form 4 filing. |
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