GoPro (NASDAQ: GPRO) CAO disposes 6,386 shares for tax bill
Rhea-AI Filing Summary
GoPro, Inc. Chief Accounting Officer Charles Lafrades reported a tax-related share disposition. On the reported date, 6,386 shares of Class A common stock at an indicated price of $0.8066 per share were surrendered to GoPro to cover federal and state tax withholding from vesting restricted stock units.
According to the disclosure, these shares were relinquished and cancelled by the company, and were not sold on the open market or disposed of for any reason other than required taxes. After this exempt transaction, Lafrades directly held 121,601 shares of GoPro Class A common stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 6,386 shares
Net Sell
1 txn
Insider
Lafrades Charles
Role
Chief Accounting Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise Price or Tax Liability | Class A Common Stock | 6,386 | $0.8066 | $5K |
Holdings After Transaction:
Class A Common Stock — 121,601 shares (Direct)
Footnotes (1)
- F1. Exempt transaction pursuant to Section 16b-3(e) - Payment of exercise price or tax liability by delivering or withholding securities incident to the receipt, exercise or vesting of a security issued in accordance with Rule 16b-3. All of the shares reported as disposed of in this line item were relinquished by the Reporting Person and cancelled by the Issuer in exchange for the Issuer's agreement to pay federal and state tax withholding obligations of the Reporting Person resulting from the vesting of restricted stock units. The Reporting Person did not sell or otherwise dispose of any of the shares reported in this line item for any reason other than to cover required taxes.
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FAQ
What insider transaction did GoPro (GPRO) report for Charles Lafrades?
GoPro reported that Chief Accounting Officer Charles Lafrades had 6,386 Class A shares withheld to pay tax obligations from vesting restricted stock units. The shares were cancelled by GoPro, and no open-market sale or discretionary trading occurred in this transaction.
Was the GoPro (GPRO) insider transaction by Charles Lafrades an open-market sale?
No, the transaction was not an open-market sale. Shares were relinquished and cancelled solely to cover federal and state tax withholding from restricted stock unit vesting, under an exempt Section 16b-3(e) tax-withholding disposition arrangement with GoPro.
Why is the GoPro (GPRO) Charles Lafrades Form 4 transaction considered exempt?
The transaction is described as exempt under Section 16b-3(e) because shares were delivered or withheld solely to satisfy tax liabilities from vesting restricted stock units. GoPro cancelled these shares in exchange for covering the insider’s federal and state tax withholding obligations.