Getty Images (GETY) Chief of Staff sells shares to cover tax withholding
Rhea-AI Filing Summary
Getty Images Holdings Chief of Staff Michael Teaster reported an open-market sale of 6,587 shares of Class A Common Stock at a weighted average price of $0.78 per share. The sale was made to cover mandatory tax withholding on vested restricted and performance stock units under non-discretionary Rule 10b5-1 trading instructions. After this transaction, Teaster directly holds 260,064 shares, so the sale represents only a small portion of his overall position.
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Insider Trade Summary 10b5-1
Net Seller: 6,587 shares
Net Sell
1 txn
Insider
Teaster Michael
Role
Chief of Staff
Sold
6,587 shs ($5K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Class A Common Stock | 6,587 | $0.78 | $5K |
Holdings After Transaction:
Class A Common Stock — 260,064 shares (Direct)
Footnotes (2)
- F1. The non-discretionary sales to cover mandatory tax withholding obligations in connection with the vesting and settlement of restricted stock units and performance restricted stock units reported in this Form 4 were effected pursuant to Rule 10b5-1 trading plan instructions adopted in connection by the Reporting Person in award agreements, dated March 16, 2023, for the respective equity grants.
- F2. This transaction was executed in multiple trades at prices ranging from $.76 to $.82. The price reported above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transaction was effected.
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FAQ
What insider transaction did Getty Images (GETY) report for Michael Teaster?
Getty Images reported that Chief of Staff Michael Teaster sold 6,587 shares of Class A Common Stock at a weighted average price of $0.78 per share. The sale was tied to tax withholding on vested restricted and performance stock units under non-discretionary Rule 10b5-1 instructions.
Is Michael Teaster’s Getty Images (GETY) sale an open-market transaction?
The Form 4 describes the transaction as an open-market sale of Class A Common Stock. However, it clarifies that the sales were non-discretionary and specifically to satisfy mandatory tax withholding obligations arising from equity awards that had vested and settled.