Elauwit director granted 7,247 RSUs
Elauwit Connection director Elbert G. Basolis Jr. reported a compensation-related stock award rather than an open-market trade.
Rhea-AI Filing Summary
Elauwit Connection director Elbert G. Basolis Jr. reported a compensation-related stock award rather than an open-market trade. He received 7,247 Restricted Stock Units (RSUs) that convert into common stock on a one-for-one basis at no exercise price, granted under the Elauwit Connection, Inc. 2025 Stock Incentive Plan. The award generally vests on the first anniversary of the grant date, while a separate block of 1,693 RSUs vests on April 2, 2027. Following these updates, he directly holds 170,471 shares of common stock and maintains RSU positions in addition to those shares.
Positive
- None.
Negative
- None.
Insider Trade Summary
Grant/Award: 7,247 shares
Grant/Award
3 txns
Insider
BASOLIS ELBERT G JR
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Stock Units | 7,247 | $0.00 | $0.00 |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Units — 8,940 contracts for 1,693 underlying shares (Direct);
Common Stock — 170,471 shares (Direct)
Footnotes (2)
- F1. These restricted stock units, which convert into common stock on a one-for-one basis, were granted under the Elauwit Connection, Inc. 2025 Stock Incentive Plan in a transaction exempt under Rule 16b-3 and, except as otherwise provided in the award notice, vest on the first anniversary of the date of grant.
- F2. These restricted stock units, which convert into common stock on a one-for-one basis, vest on April 2, 2027, except as otherwise provided in the award notice.
Key Figures
New RSU grant: 7,247 units
Common shares held: 170,471 shares
Existing RSUs: 1,693 units
+1 more
4 metrics
New RSU grant
7,247 units
Restricted Stock Units granted to director on grant date
Common shares held
170,471 shares
Direct common stock holdings after reported transactions
Existing RSUs
1,693 units
Restricted Stock Units scheduled to vest on April 2, 2027
RSU exercise price
$0.0000 per share
Conversion or exercise price for reported Restricted Stock Units
Key Terms
Restricted Stock Units, 2025 Stock Incentive Plan, Rule 16b-3
3 terms
Restricted Stock Units financial
"These restricted stock units, which convert into common stock on a one-for-one basis, were granted..."
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.
2025 Stock Incentive Plan financial
"...were granted under the Elauwit Connection, Inc. 2025 Stock Incentive Plan in a transaction exempt..."
Rule 16b-3 regulatory
"...were granted under the Elauwit Connection, Inc. 2025 Stock Incentive Plan in a transaction exempt under Rule 16b-3..."
Rule 16b-3 is a Securities and Exchange Commission regulation that exempts certain routine, pre-approved transactions by company insiders from automatic liability for short-term trading profits. It acts like a safe harbor: if an insider follows a formal plan or the board approves specific transactions in advance, profits from buying and selling company stock within six months are not automatically reclaimed. Investors care because the rule clarifies when insider trades are permissible and reduces uncertainty about potential clawbacks.
FAQ
What insider transaction did Elauwit Connection (ELWT) report for Elbert G. Basolis Jr.?
Elauwit Connection reported that director Elbert G. Basolis Jr. received 7,247 Restricted Stock Units as a compensation grant. These RSUs convert into common stock on a one-for-one basis at a zero exercise price under the 2025 Stock Incentive Plan.
When do the new Elauwit Connection (ELWT) RSUs granted to Elbert G. Basolis Jr. vest?
The newly granted Restricted Stock Units generally vest on the first anniversary of the grant date. This vesting schedule is subject to the terms outlined in the award notice under the Elauwit Connection, Inc. 2025 Stock Incentive Plan.
What are the terms of the existing 1,693 Elauwit Connection (ELWT) RSUs reported?
The filing states that 1,693 Restricted Stock Units vest on April 2, 2027, unless otherwise provided in the award notice. These RSUs also convert into Elauwit Connection common stock on a one-for-one basis when they vest, according to the footnote disclosure.
Is the Elauwit Connection (ELWT) Form 4 transaction an open-market stock purchase or sale?
The Form 4 reflects a grant of 7,247 Restricted Stock Units as compensation, not an open-market purchase or sale. The transaction is described as a grant or award exempt under Rule 16b-3, with no cash exercise price and future vesting conditions.
Under which plan were the new Elauwit Connection (ELWT) RSUs for Elbert G. Basolis Jr. granted?
The new Restricted Stock Units were granted under the Elauwit Connection, Inc. 2025 Stock Incentive Plan. The filing explains that this grant is exempt under Rule 16b-3 and that the RSUs convert into common stock on a one-for-one basis upon vesting.
AI-generated analysis. How Rhea-AI works. Not financial advice.
