CC insider filing: tax withholding on 3,021 RSUs, no sale
Rhea-AI Filing Summary
The Chemours Company reported an insider transaction by Shane Hostetter, its Chief Financial Officer. The filing shows 3,021 common shares were withheld to satisfy tax obligations on vesting restricted stock units and dividend equivalent units. The report indicates these withholding transactions were exempt under Rule 16b-3 and that no shares were sold in connection with the withholding.
The filing lists a per-share price of $12 for the withheld shares and shows total beneficial ownership following the transaction of 57,115.1539 shares, which the filer states includes directly owned shares, restricted stock units and dividend equivalent units.
Positive
- None.
Negative
- None.
Insights
Routine tax-withholding on vested equity; limited investor impact.
The report documents a common, administrative transaction where 3,021 shares were automatically withheld to cover tax liabilities on vested restricted stock units and dividend equivalent units. The filing explicitly states that no shares were sold and that the transaction is exempt under Rule 16b-3, which typically preserves the issuer and reporting person's exemption from short-swing profit recapture. Post-transaction beneficial ownership is reported as 57,115.1539 shares, aggregating directly held shares and unexercised/vested awards. This is a routine insider administrative adjustment and does not reflect a change in economic exposure beyond the vesting event itself.
Governance controls functioning; disclosure aligns with Section 16 reporting norms.
The filing discloses an internal tax-withholding action for the CFO’s equity awards rather than an open-market disposition. The explanatory note confirms the withholding satisfies tax obligations on vesting awards and affirms the Rule 16b-3 exemption, indicating adherence to standard Section 16 procedures for equity compensation. The registry of 57,115.1539 shares as beneficial ownership, including restricted stock units and dividend equivalents, provides transparency on the reporting person’s aggregate exposure as of the report. From a governance standpoint, this is a routine, properly-exempted administrative transaction with no apparent compliance concern disclosed in the form.