Health In Tech (HIT) CGO uses 4,045 shares to cover tax withholding
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Health In Tech, Inc. Chief Growth Officer Hasan Zain Syed reported a routine tax-related share disposition. On the vesting of previously granted restricted Class A Common Stock, he surrendered 4,045 shares at $1.05 per share to cover tax withholding and remittance obligations. After this transaction, he directly holds 208,302 Class A shares, including 199,288 restricted and 9,014 unrestricted shares. This was not an open-market sale but a compensation-related tax withholding event.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Hasan Zain Syed
Role
Chief Growth Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Class A Common Stock | 4,045 | $1.05 | $4K |
Holdings After Transaction:
Class A Common Stock — 208,302 shares (Direct, null)
Footnotes (1)
- Represents restricted shares of Class A Common Stock surrendered to the Issuer to satisfy tax withholding and remittance obligations in connection with the vesting of restricted shares of Class A Common Stock for which service-based vesting requirements have been satisfied. The grant of such restricted stock was previously reported by the reporting person on a Form 4. Includes 199,288 restricted shares of Class A Common Stock and 9,014 unrestricted shares of Class A Common Stock.
Key Figures
Shares surrendered for taxes: 4,045 shares
Implied tax price per share: $1.05 per share
Total shares after transaction: 208,302 shares
+2 more
5 metrics
Shares surrendered for taxes
4,045 shares
Class A Common Stock, tax withholding disposition (Code F)
Implied tax price per share
$1.05 per share
Value used for tax-withholding disposition of 4,045 shares
Total shares after transaction
208,302 shares
Direct Class A holdings following the Form 4 transaction
Restricted shares held
199,288 shares
Restricted Class A Common Stock included in post-transaction total
Unrestricted shares held
9,014 shares
Unrestricted Class A Common Stock included in post-transaction total
Key Terms
restricted shares, tax withholding, service-based vesting requirements, restricted stock, +1 more
5 terms
tax withholding financial
"surrendered to the Issuer to satisfy tax withholding and remittance obligations in connection with the vesting..."
Tax withholding is the practice of taking a portion of a payment—such as wages, dividends, or sale proceeds—before it reaches the recipient and sending that portion to the tax authority as an advance on the recipient’s eventual tax bill. For investors it matters because withholding reduces immediate cash received and affects after‑tax returns, estimated tax payments, and whether you may owe more or receive a refund when taxes are finally calculated, like having a small automatic savings set aside for your tax bill.
service-based vesting requirements financial
"in connection with the vesting of restricted shares of Class A Common Stock for which service-based vesting requirements have been satisfied."
restricted stock financial
"The grant of such restricted stock was previously reported by the reporting person on a Form 4."
Shares granted to an individual that carry limits on transfer or sale until certain conditions are met, such as staying with the company for a set time or hitting performance targets. Think of them as a locked gift that gradually opens; for investors they matter because they affect how many shares may enter the market later, signal management incentives and potential dilution, and reveal confidence in future company performance.
Form 4 regulatory
"The grant of such restricted stock was previously reported by the reporting person on a Form 4."
Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.
FAQ
What insider transaction did Health In Tech (HIT) report for Hasan Zain Syed?
Health In Tech reported that Chief Growth Officer Hasan Zain Syed surrendered 4,045 Class A shares. These shares were given back to the company to cover tax withholding obligations tied to vesting restricted stock, not sold in the open market.
Was the Health In Tech (HIT) Form 4 transaction an open-market sale?
No, the Form 4 transaction was not an open-market sale. The 4,045 Class A shares were surrendered to satisfy tax withholding and remittance obligations when restricted shares vested, a routine compensation-related event rather than a discretionary stock sale.
What does the F code mean in the Health In Tech (HIT) Form 4 filing?
In this Form 4, the F code indicates a tax-withholding disposition. It shows 4,045 shares of Class A Common Stock were surrendered to Health In Tech to pay tax obligations on vested restricted stock, rather than being sold on the market.