Latch grants 500,000 RSUs to product & tech chief
Latch, Inc. Chief Product & Technology Officer Ryan D. Salmons received a grant of 500,000 restricted stock units under his amended and restated employment agreement.
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Form Type
4
Rhea-AI Filing Summary
Latch, Inc. Chief Product & Technology Officer Ryan D. Salmons received a grant of 500,000 restricted stock units under his amended and restated employment agreement. Each RSU represents one share of common stock upon vesting.
The RSUs vest over three years starting on December 31, 2024: one-third on the first anniversary and the rest in substantially equal quarterly installments over the following two years, subject to continued service. On the same date, 59,895 shares of common stock were withheld at $0.20 per share to satisfy tax obligations from RSU vesting, a non–open-market disposition.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Salmons Ryan D
Role
Chief Prod. & Tech. Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 500,000 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Stock | 59,895 | $0.20 | $12K |
Holdings After Transaction:
Common Stock — 440,105 shares (Direct)
Footnotes (2)
- F1. The Reporting Person was granted 500,000 restricted stock units ("RSUs") pursuant to the Reporting Person's Amended and Restated Employment Agreement. Each RSU represents a contingent right to receive one share of the Issuer's common stock upon vesting. The RSUs vest over a three-year period commencing on December 31, 2024. One-third of the RSUs vest on the first anniversary of December 31, 2024, and the remaining RSUs vest in substantially equal quarterly installments thereafter over the following two years, subject to the Reporting Person's continued service through each applicable vesting date. The grant was approved on June 12, 2026.
- F2. Represents shares withheld by the Issuer to satisfy tax withholding obligations arising from the vesting and settlement of restricted stock units pursuant to Rule 16b-3.
Key Figures
RSU grant size: 500,000 RSUs
Tax-withheld shares: 59,895 shares
Withholding price: $0.20 per share
+2 more
5 metrics
RSU grant size
500,000 RSUs
Granted to Chief Product & Technology Officer on June 12, 2026
Tax-withheld shares
59,895 shares
Shares withheld to satisfy RSU tax obligations
Withholding price
$0.20 per share
Value used for tax-withholding disposition
Shares held after withholding
440,105 shares
Common stock directly held after tax-withholding disposition
RSU vesting start date
December 31, 2024
Commencement of three-year RSU vesting schedule
Key Terms
restricted stock units, Amended and Restated Employment Agreement, tax withholding obligations, Rule 16b-3
4 terms
restricted stock units financial
"The Reporting Person was granted 500,000 restricted stock units ("RSUs") pursuant to the Reporting Person's Amended and Restated Employment Agreement."
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
Amended and Restated Employment Agreement financial
"The Reporting Person was granted 500,000 restricted stock units ("RSUs") pursuant to the Reporting Person's Amended and Restated Employment Agreement."
tax withholding obligations financial
"Represents shares withheld by the Issuer to satisfy tax withholding obligations arising from the vesting and settlement of restricted stock units pursuant to Rule 16b-3."
Rule 16b-3 regulatory
"Represents shares withheld by the Issuer to satisfy tax withholding obligations arising from the vesting and settlement of restricted stock units pursuant to Rule 16b-3."
Rule 16b-3 is a Securities and Exchange Commission regulation that exempts certain routine, pre-approved transactions by company insiders from automatic liability for short-term trading profits. It acts like a safe harbor: if an insider follows a formal plan or the board approves specific transactions in advance, profits from buying and selling company stock within six months are not automatically reclaimed. Investors care because the rule clarifies when insider trades are permissible and reduces uncertainty about potential clawbacks.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Latch (LTCH) disclose about Ryan D. Salmons’ new equity grant?
Latch granted Chief Product & Technology Officer Ryan D. Salmons 500,000 restricted stock units (RSUs). Each RSU can convert into one share of common stock upon vesting, reflecting a significant component of his long-term, equity-based compensation package tied to continued service.
How do the 500,000 RSUs granted to Latch (LTCH) executive Ryan Salmons vest?
The 500,000 RSUs vest over three years starting December 31, 2024. One-third vests on the first anniversary of that date, with the remaining units vesting in substantially equal quarterly installments over the next two years, conditioned on his continued service.
What role does Rule 16b-3 play in the Latch (LTCH) insider transactions?
The tax-withholding share disposition was executed pursuant to Rule 16b-3. This SEC rule provides an exemption for certain insider transactions, including issuer-directed tax withholding related to equity compensation, helping ensure these routine events are treated differently from open-market trading activity.
Is the Latch (LTCH) RSU grant to Ryan Salmons tied to his employment agreement?
Yes. The 500,000 RSUs were granted under Salmons’ Amended and Restated Employment Agreement. This links his long-term compensation to company performance and retention, with vesting dependent on his continued service through specified future vesting dates.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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