Latch (LTCH) CEO awarded 968,179 RSUs as 257,816 shares withheld for tax
Rhea-AI Filing Summary
Latch, Inc. reported that Chief Executive Officer David J. Lillis received a grant of 968,179 restricted stock units (RSUs) approved on June 12, 2026 under his Amended and Restated Employment Agreement. Each RSU represents a right to one share of common stock upon vesting.
The RSUs vest over three years starting July 13, 2023, with one-third vesting on the first anniversary and the remainder in substantially equal quarterly installments over the following two years, subject to continued service. On the same date, 257,816 common shares valued at $0.20 per share were withheld by Latch to cover tax obligations from RSU vesting, leaving Lillis with 710,363 common shares held directly.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 710,363 shares
Net Buy
2 txns
Insider
Lillis David J
Role
Chief Executive Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 968,179 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Stock | 257,816 | $0.20 | $52K |
Holdings After Transaction:
Common Stock — 710,363 shares (Direct)
Footnotes (2)
- F1. The Reporting Person was granted 968,179 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 July 13, 2023. One-third of the RSUs vest on the first anniversary of July 13, 2023, 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: 968,179 RSUs
RSU vesting period: 3 years
Initial vesting tranche: One-third of 968,179 RSUs
+3 more
6 metrics
RSU grant
968,179 RSUs
Granted to CEO, approved June 12, 2026
RSU vesting period
3 years
Vesting commences on July 13, 2023
Initial vesting tranche
One-third of 968,179 RSUs
Vests on first anniversary of July 13, 2023
Tax withholding shares
257,816 shares
Common stock withheld to satisfy tax obligations
Tax withholding price
$0.20 per share
Value used for shares withheld
Shares held after withholding
710,363 shares
CEO direct common stock holdings after tax withholding
Key Terms
restricted stock units ("RSUs"), Amended and Restated Employment Agreement, Rule 16b-3
3 terms
restricted stock units ("RSUs") financial
"The Reporting Person was granted 968,179 restricted stock units ("RSUs") pursuant to the Reporting Person's Amended and Restated Employment Agreement."
Restricted stock units (RSUs) are a company promise to give an employee shares of stock (or cash equivalent) in the future, but only after certain conditions—usually staying with the company for a set time or hitting performance goals—are met. Investors watch RSUs because when they vest they increase the number of shares outstanding and can lead insiders to sell shares, affecting share price, company dilution and the true cost of employee pay.
Amended and Restated Employment Agreement financial
"The Reporting Person was granted 968,179 restricted stock units ("RSUs") pursuant to the Reporting Person's Amended and Restated Employment Agreement."
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.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What insider transactions did Latch (LTCH) disclose for CEO David J. Lillis?
Latch disclosed that CEO David J. Lillis received 968,179 restricted stock units and had 257,816 common shares withheld to satisfy tax obligations from RSU vesting. After the tax withholding, he directly held 710,363 shares of Latch common stock.
How many restricted stock units did the Latch (LTCH) CEO receive and when were they approved?
CEO David J. Lillis was granted 968,179 restricted stock units, approved on June 12, 2026. The grant was made under his Amended and Restated Employment Agreement and each RSU represents a contingent right to receive one share of Latch common stock upon vesting.
What is the vesting schedule for the 968,179 RSUs granted to the Latch (LTCH) CEO?
The 968,179 RSUs vest over three years starting July 13, 2023. One-third vests on the first anniversary of July 13, 2023, and the remaining RSUs vest in substantially equal quarterly installments over the next two years, contingent on continued service.