Health In Tech (HIT) growth chief surrenders 4,205 shares for 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 compensation-related share disposition tied to tax withholding. On restricted stock vesting, he surrendered 4,205 shares of Class A Common Stock at $1.23 per share to cover tax obligations rather than selling them in the market.
After this transaction, Syed directly holds 212,347 Class A shares, including 205,680 restricted shares and 6,667 unrestricted shares. This filing reflects routine tax withholding associated with previously reported restricted stock awards.
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 | 4,205 | $1.23 | $5K |
Holdings After Transaction:
Class A Common Stock — 212,347 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 205,680 restricted shares of Class A Common Stock and 6,667 unrestricted shares of Class A Common Stock.
Key Figures
Shares surrendered for tax withholding: 4,205 shares
Price per surrendered share: $1.23 per share
Shares held after transaction: 212,347 shares
+2 more
5 metrics
Shares surrendered for tax withholding
4,205 shares
Class A Common Stock, transaction code F
Price per surrendered share
$1.23 per share
Tax-withholding disposition
Shares held after transaction
212,347 shares
Direct holdings of Class A Common Stock
Restricted shares included in holdings
205,680 shares
Restricted Class A Common Stock
Unrestricted shares included in holdings
6,667 shares
Unrestricted Class A Common Stock
Key Terms
restricted shares, tax withholding, service-based vesting requirements, Class A Common Stock, +1 more
5 terms
tax withholding financial
"surrendered to the Issuer to satisfy tax withholding and remittance obligations"
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
"for which service-based vesting requirements have been satisfied"
Class A Common Stock financial
"represents restricted shares of Class A Common Stock surrendered"
Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.
Form 4 regulatory
"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 did Health In Tech (HIT) Chief Growth Officer report in this Form 4?
The Chief Growth Officer reported surrendering 4,205 Class A Common shares at $1.23 each to cover tax obligations on vested restricted stock. This was a tax-withholding disposition, not an open-market trade, and relates to previously granted equity awards.
Was the Health In Tech (HIT) Form 4 transaction an open-market sale?
No, the Form 4 shows a tax-withholding disposition, not an open-market sale. Shares were surrendered back to the issuer to satisfy tax and remittance obligations when service-based vesting requirements for restricted stock were met.