iHeartMedia (IHRT) CFO details RSU vesting, tax withholdings
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
iHeartMedia CFO Michael B. McGuinness reported several equity compensation-related transactions in Class A Common Stock. He exercised 38,226 restricted stock units into shares, then had 19,515 and 20,001 shares withheld to satisfy tax obligations and disposed of 18,711 shares to the issuer, ending with 772,751 directly held shares and 76,453 RSUs subject to time-based vesting.
Positive
- None.
Negative
- None.
Insider Trade Summary
38,226 shares exercised/converted
Mixed
5 txns
Insider
MCGUINNESS MICHAEL B
Role
CFO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Class A Common Stock, par value $0.001 per share | 38,226 | $0.00 | -- |
| Tax Withholding | Class A Common Stock, par value $0.001 per share | 19,515 | $3.61 | $70K |
| Disposition | Class A Common Stock, par value $0.001 per share | 18,711 | $3.61 | $68K |
| Tax Withholding | Class A Common Stock, par value $0.001 per share | 20,001 | $3.61 | $72K |
| Exercise | Restricted Stock Units | 38,226 | $0.00 | -- |
Holdings After Transaction:
Class A Common Stock, par value $0.001 per share — 830,978 shares (Direct);
Restricted Stock Units — 76,453 shares (Direct)
Footnotes (1)
- Reflects cash-settled restricted stock units ("RSU"). Each RSU represents a contingent right to receive an amount in cash equal to the fair market value of one share of the Issuer's Class A Common Stock on the applicable vesting date. The RSUs shall vest as to one-third of the total RSUs on each of the first three anniversaries of February 20, 2025. Includes shares of Class A Common Stock as well as RSUs subject to time vesting conditions. Transaction represents shares withheld for taxes upon vesting of restricted stock units. Transaction represents cash equivalent amounts withheld for taxes upon vesting of cash-settled restricted stock units.
FAQ
What insider transactions did iHeartMedia (IHRT) CFO report on this Form 4?
The CFO reported exercising 38,226 restricted stock units into Class A Common Stock, with subsequent tax-related share withholdings and a disposition to the issuer. These transactions reflect equity compensation activity rather than open-market buying or selling of iHeartMedia stock.
Were the iHeartMedia (IHRT) CFO’s Form 4 transactions open-market trades?
No, the Form 4 shows compensation-related activity, not open-market trades. The transactions include RSU conversion into shares, shares withheld to cover taxes, and a disposition to the issuer, as indicated by transaction codes M, F, and D and the accompanying footnotes.
What do the tax-withholding transactions mean in the iHeartMedia (IHRT) Form 4?
The tax-withholding transactions labeled with code F represent shares or cash-equivalent amounts withheld to satisfy tax liabilities upon vesting of restricted stock units. This is a common mechanism used so insiders do not pay required taxes in cash at vesting.
How are the CFO’s restricted stock units in iHeartMedia (IHRT) structured?
The filing notes cash-settled restricted stock units that mirror the value of one Class A share. These RSUs vest in three equal installments on each of the first three anniversaries of February 20, 2025, subject to the stated time-based vesting conditions.
Did the iHeartMedia (IHRT) CFO increase or decrease his overall holdings?
The Form 4 shows both acquisition of shares through RSU conversion and dispositions for taxes and to the issuer. Overall, he continues to hold substantial direct shares and vested and unvested RSUs, reflecting ongoing equity-based compensation rather than a simple buy or sell decision.