8x8 (EGHT) Chief Legal Officer has shares withheld to cover RSU tax obligations
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
8x8, Inc. Chief Legal Officer Laurence Denny reported a routine tax-related share disposition. On the net settlement of vested restricted stock units, 25,404 shares of Common Stock were withheld by the company at $1.89 per share to cover income tax obligations and remittances, and this did not involve an open-market sale. After this withholding, Denny directly holds 618,378 shares of 8x8 Common Stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Denny Laurence
Role
Chief Legal Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Common Stock | 25,404 | $1.89 | $48K |
Holdings After Transaction:
Common Stock — 618,378 shares (Direct, null)
Footnotes (1)
- [object Object]
Key Figures
Shares withheld for taxes: 25,404 shares
Withholding price per share: $1.89 per share
Shares held after transaction: 618,378 shares
3 metrics
Shares withheld for taxes
25,404 shares
Common Stock withheld to satisfy income tax on vested RSUs
Withholding price per share
$1.89 per share
Value used for RSU-related tax withholding on Common Stock
Shares held after transaction
618,378 shares
Direct Common Stock ownership by CLO Laurence Denny after withholding
Key Terms
restricted stock units, net settlement, income tax withholding
3 terms
restricted stock units financial
"in connection with the net settlement of the vested restricted stock units and does not represent a sale"
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.
net settlement financial
"in connection with the net settlement of the vested restricted stock units and does not represent a sale"
income tax withholding financial
"withheld by the Issuer to satisfy its income tax withholding and remittance obligations in connection"
FAQ
What insider transaction did 8x8 (EGHT) disclose for Chief Legal Officer Laurence Denny?
8x8 reported that Chief Legal Officer Laurence Denny had 25,404 shares of Common Stock withheld to cover income tax obligations on vested restricted stock units. This was a tax-withholding event, not an open-market sale of shares.
What does transaction code "F" mean in the 8x8 (EGHT) Form 4 filing?
Transaction code "F" indicates payment of exercise price or tax liability by delivering securities. In this case, it reflects shares of 8x8 Common Stock withheld by the issuer to cover income tax obligations on vested restricted stock units, not an open-market trade.