[Form 4/A] Data Storage Corp Amended Insider Trading Activity
Rhea-AI Filing Summary
Data Storage Corp (DTST) amended Form 4 shows Chief Financial Officer Christos Panagiotakos reported equity changes tied to RSU vesting on 03/28/2025. The filing discloses the vesting of 5,564 restricted stock units that converted one-for-one into common shares and increased the reporting person’s beneficial ownership to 41,093 shares. To satisfy tax-withholding obligations, 2,003 shares were sold in multiple transactions at a weighted average price of $3.61 (trades ranged $3.50–$3.68). The RSUs were granted 03/28/2023 and vest in equal annual installments through 03/28/2026. The amendment corrects an omission from the original Form 4 filed 04/01/2025.
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Insights
TL;DR: Amendment discloses routine RSU vesting and tax-withholding sales; limited direct impact on company operations but affects insider share count.
The amended filing reports the vesting of 5,564 RSUs that converted to common stock and a related sale of 2,003 shares to cover tax withholding at a weighted average price of $3.61. This is a standard compensation-related event rather than a transactional signal about corporate strategy or financial performance. The reporting person’s post-transaction beneficial ownership is 41,093 shares. The disclosure clarifies ownership and trading activity for market transparency.
TL;DR: The amendment corrects an omission, improving disclosure compliance; the activity appears routine for executive compensation.
The Form 4/A documents previously omitted RSU vesting from a grant dated 03/28/2023 that vests in three equal installments. The amendment and the attorney-in-fact signature dated 09/15/2025 indicate remediation of the original filing error. While the underlying events are customary—RSU vesting and tax-withholding sales—the need for an amendment highlights the importance of timely and complete Section 16 reporting for insider transparency and compliance.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Unit | 5,564 | $0.00 | -- |
| Sale | Common Stock | 2,003 | $3.61 | $7K |
| Exercise | Common Stock | 5,564 | $0.00 | -- |
Footnotes (1)
- Represents shares of the Issuer's common stock sold to satisfy tax withholding obligations of Mr. Panagiotakos (the "Reporting Person"). The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $3.50 through $3.68 (the "Range"), inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the Range. Restricted stock units ("RSUs") convert into common stock on a one-for-one basis. This amendment to Form 4 is being filed to disclose the vesting of RSUs which was inadvertently omitted from the original Form 4 filed by the Reporting Person on April 1, 2025 (the "Original Form 4"), which vesting resulted in the sale of common stock to satisfy tax withholding obligations previously reported on the Original Form 4. These RSUs were granted to the Reporting Person on March 28, 2023 and vest over a three year period, in equal installments on March 28, 2024, March 28, 2025 and March 28, 2026.
