Form 4: Zevia PBC Director Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Padraic L. Spence, a director of Zevia PBC, sold 26,199 shares of Class A Common Stock on March 13, 2024, to cover tax liabilities related to the settlement of restricted stock units.
Summary
- On March 13, 2024, Padraic L. Spence, a director of Zevia PBC, sold 26,199 shares of Class A Common Stock.
- The sale was executed to cover tax obligations associated with the settlement of 61,112 restricted stock units (RSUs).
- The shares were sold at a weighted average price of $1.3209, with individual transactions ranging from $1.28 to $1.38.
- Following the transaction, Spence still beneficially owns 1,753,540 shares, including 801,872 RSUs.
Sentiment
Score: 5
Explanation: The document describes a routine transaction (sell to cover taxes) and doesn't contain any information that would significantly impact investor sentiment positively or negatively.
Industry Context
This transaction is a routine occurrence where company executives sell shares to cover tax obligations related to equity compensation. It doesn't necessarily reflect a change in the executive's confidence in the company's future prospects.
Stakeholder Impact
- The sale of shares could have a minor, temporary impact on the stock price.
Key Dates
| Date | Description |
|---|---|
| 01/17/2022 | 2,200,000 RSUs began vesting in 1/36 equal monthly installments on each monthly anniversary of this date. |
| 03/17/2022 | 148,417 RSUs began vesting in 1/4 increments on each anniversary of this date. |
| 03/13/2024 | Date of the transaction: sale of 26,199 shares of Class A Common Stock. |
| 03/15/2024 | Date of signature on the Form 4 filing. |
| 06/15/2024 | 18,359 RSUs vest on the earlier to occur of this date or the Issuer's 2024 annual meeting of stockholders. |
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