Cars.com (CARS) CLO has RSU shares withheld to cover tax bill
Rhea-AI Filing Summary
Cars.com Inc.'s Chief Legal Officer, Angelique Strong Marks, reported a tax-related share disposition. On the reported date, 16,442 shares of common stock underlying vested restricted stock units were withheld by Cars.com Inc. to cover tax obligations, rather than being sold in the open market.
These shares were retained by the company and not issued, while Marks’ direct holdings after this transaction total 143,013 shares of common stock, including restricted stock units and 1,621 shares acquired through the company’s Employee Stock Purchase Plan.
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Insider Trade Summary
Net Seller: 16,442 shares
Net Sell
1 txn
Insider
Marks Angelique Strong
Role
Chief Legal Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise Price or Tax Liability | Common Stock | 16,442 | $8.54 | $140K |
Holdings After Transaction:
Common Stock — 143,013 shares (Direct)
Footnotes (2)
- F1. The shares of common stock underlying restricted stock units ("RSUs") that are being reported as "disposed" were retained (but not issued) by Cars.com Inc. (the "Company") in satisfaction of tax withholding obligations associated with the vesting of RSUs.
- F2. Includes RSUs. Also includes 1621 shares of common stock acquired pursuant to the Company's Employee Stock Purchase Plan.
FAQ
What insider transaction did Cars.com (CARS) report for Angelique Strong Marks?
Cars.com reported that Chief Legal Officer Angelique Strong Marks had 16,442 shares withheld to satisfy tax obligations from vesting RSUs. The shares were retained by the company, not sold in the market, and reflect a routine tax-withholding disposition.
What does transaction code "F" mean in the Cars.com (CARS) Form 4 filing?
Transaction code “F” indicates shares used to pay an exercise price or tax liability. For Cars.com, 16,442 shares underlying vested RSUs were withheld by the company to satisfy tax withholding obligations, rather than being sold for discretionary portfolio reasons.
What role does the Employee Stock Purchase Plan play in Angelique Strong Marks’ Cars.com (CARS) holdings?
The filing notes that her holdings include 1,621 shares acquired through Cars.com’s Employee Stock Purchase Plan. This plan allows eligible employees to buy company stock, and these shares are part of her total 143,013 directly held common shares after the reported transaction.
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