BRC Inc. (BRCC) counsel reports RSU tax-withholding of 2,227 shares
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
BRC Inc. reported a routine insider share disposition tied to taxes rather than market trading. General Counsel and Corporate Secretary Andrew J. McCormick had 2,227 shares of Class A Common Stock withheld by the company to cover tax obligations from vesting restricted stock units. This was recorded at an effective price of $0.9752 per share and reflects a tax-withholding mechanism, not an open-market sale. After this transaction, McCormick directly holds 531,773 Class A shares, indicating he retains a substantial equity stake following the RSU vesting event.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
McCormick Andrew J.
Role
Gen. Counsel & Corp. Secretary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Class A Common Stock | 2,227 | $0.9752 | $2K |
Holdings After Transaction:
Class A Common Stock — 531,773 shares (Direct, null)
Footnotes (1)
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Key Figures
Tax-withheld shares: 2,227 shares
Effective price per share: $0.9752 per share
Shares held after transaction: 531,773 shares
3 metrics
Tax-withheld shares
2,227 shares
Shares withheld to satisfy tax obligations on RSU vesting
Effective price per share
$0.9752 per share
Value used for the 2,227 tax-withheld shares
Shares held after transaction
531,773 shares
Direct Class A Common Stock holdings post-transaction
Key Terms
restricted stock units, tax withholding obligations, Class A Common Stock, tax-withholding disposition
4 terms
restricted stock units financial
"in connection with the vesting of restricted stock units"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
tax withholding obligations financial
"to satisfy the Reporting Person's tax withholding obligations"
Class A Common Stock financial
"security_title": "Class A Common Stock""
Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.
tax-withholding disposition financial
"transaction_action": "tax-withholding disposition""
A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.
FAQ
What insider transaction did BRC Inc. (BRCC) report for Andrew J. McCormick?
BRC Inc. reported that General Counsel Andrew J. McCormick had 2,227 Class A shares withheld to satisfy tax obligations from vesting restricted stock units. This Form 4 event reflects administrative tax withholding rather than an open-market stock sale or purchase.
What does transaction code "F" mean in the BRCC Form 4 filing?
Transaction code "F" indicates shares were used to pay an exercise price or tax liability. In this BRCC filing, 2,227 shares were withheld by the issuer to satisfy Andrew J. McCormick’s tax withholding obligations from vesting restricted stock units.
What role does Andrew J. McCormick hold at BRC Inc. (BRCC)?
The Form 4 identifies Andrew J. McCormick as BRC Inc.’s General Counsel and Corporate Secretary. His reported transaction reflects tax-withholding on equity compensation, aligning with his status as an executive officer receiving restricted stock unit awards.