iRhythm (IRTC) CEO nets performance shares, sells portion to cover taxes
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
iRhythm Holdings President and CEO Quentin S. Blackford reported a performance-based stock vesting and related tax sale. On February 24, he acquired 46,687 shares of common stock at no cost through the vesting of performance RSUs granted on February 27, 2023, after the board committee determined the performance conditions were met.
On February 25, he sold 25,540 shares of common stock at an average price of $135.4189 per share solely to cover tax withholding and remittance obligations tied to that vesting. After these transactions, he directly owned 186,126 shares of iRhythm common stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 25,540 shares ($3,458,599)
Net Sell
2 txns
Insider
Blackford Quentin S.
Role
President and CEO
Sold
25,540 shs ($3.46M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 25,540 | $135.4189 | $3.46M |
| Grant/Award | Common Stock | 46,687 | $0.00 | -- |
Holdings After Transaction:
Common Stock — 186,126 shares (Direct)
Footnotes (1)
- Represents the acquisition of shares upon the determination of the Compensation & Human Capital Management Committee of the Board of Directors of the Issuer that the performance conditions were met with respect to performance Restricted Stock Units ("RSUs") granted to the Reporting Person on February 27, 2023. These shares were sold to cover tax withholding and remittance obligations in connection with the vesting of performance RSUs.
FAQ
What insider transactions did iRhythm (IRTC) CEO Quentin Blackford report?
Quentin S. Blackford reported a performance stock vesting and a related tax sale. He acquired 46,687 iRhythm shares from performance RSUs, then sold 25,540 shares to cover tax withholding obligations, leaving him with 186,126 directly owned shares.
What performance conditions triggered the iRhythm (IRTC) CEO’s RSU vesting?
The vesting occurred after the board’s Compensation & Human Capital Management Committee determined that performance conditions on RSUs granted February 27, 2023 were met. Those conditions governed when the performance-based restricted stock units would convert into common shares.