Cigna Group (NYSE: CI) EVP has 729 shares withheld to cover tax obligations
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Cigna Group executive Durga Prasad Koka, EVP and Global CIO, reported a routine tax-related share disposition. On the vesting of restricted shares, 729 common shares were withheld to cover tax obligations at an indicated value of $275.53 per share. After this withholding, Koka directly holds 6,552 Cigna common shares. This was not an open-market sale, but an automatic mechanism tied to equity compensation.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Koka Durga Prasad
Role
EVP, Global CIO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Common Stock, $.01 Par Value | 729 | $275.53 | $201K |
Holdings After Transaction:
Common Stock, $.01 Par Value — 6,552 shares (Direct, null)
Footnotes (1)
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Key Figures
Shares withheld for taxes: 729 shares
Indicated value per share: $275.53 per share
Shares held after transaction: 6,552 shares
3 metrics
Shares withheld for taxes
729 shares
Tax obligations on vesting of restricted shares
Indicated value per share
$275.53 per share
Value used for 729-share tax withholding
Shares held after transaction
6,552 shares
Direct Cigna common stock holdings post-withholding
Key Terms
restricted shares, tax obligations, tax-withholding disposition, Form 4
4 terms
tax obligations financial
"Represents shares withheld to satisfy tax obligations upon vesting of restricted shares."
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.
Form 4 regulatory
"INSIDER FILING DATA (Form 4):"
Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.
FAQ
What insider transaction did Cigna (CI) report for EVP Durga Prasad Koka?
Cigna reported that EVP and Global CIO Durga Prasad Koka had 729 common shares withheld to cover taxes upon restricted share vesting. This Form 4 shows a tax-withholding disposition, not an open-market purchase or sale of Cigna stock.
Was the Cigna (CI) EVP’s Form 4 transaction an open-market stock sale?
No, the Form 4 describes shares withheld to satisfy tax obligations on restricted share vesting. The 729 Cigna common shares were not sold in the market but used to pay taxes automatically tied to equity compensation.
What does transaction code F mean in the Cigna (CI) Form 4 filing?
Transaction code F indicates a disposition of shares to pay an exercise price or tax liability. In this Cigna Form 4, it reflects 729 common shares withheld from an executive’s restricted share vesting to cover owed taxes, not a discretionary market trade.