Lantronix insider stock awards vest; shares withheld
Lantronix’s Chief Product & Strategy Officer received vested RSU shares and had portions withheld to satisfy tax obligations, with no Rule 10b5-1 plan in place.
Rhea-AI Filing Summary
LANTRONIX INC (LTRX) reported that Chief Product & Strategy Officer Mathi Gurusamy had several restricted stock unit (RSU) awards vest on September 1, 2026, resulting in the acquisition of multiple blocks of common stock. RSUs from grants dated July 1, 2024, June 1, 2024, and July 11, 2025 (including performance-based RSUs tied to earnings per share and revenue targets) were converted into common shares. In connection with these vestings, shares were withheld to cover required tax withholding, and no Rule 10b5-1 trading plan is reported.
Positive
- None.
Negative
- None.
Insider Trade Summary
33,762 shares exercised/converted
Exercise
10 txns
Insider
Gurusamy Mathi
Role
Chief Product & Strategy Ofcr
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units F1 | 3,334 | $0.00 | $0.00 |
| Exercise | Restricted Stock Units F2 | 7,975 | $0.00 | $0.00 |
| Exercise | Restricted Stock Units F3 | 7,118 | $0.00 | $0.00 |
| Exercise | Restricted Stock Units F5 | 15,335 | $0.00 | $0.00 |
| Exercise | Common Stock F1 | 3,334 | $0.00 | $0.00 |
| Exercise | Common Stock F2 | 7,975 | $0.00 | $0.00 |
| Exercise | Common Stock F3 | 7,118 | $0.00 | $0.00 |
| Tax Withholding | Common Stock F4 | 8,452 | $5.15 | $44K |
| Exercise | Common Stock F5 | 15,335 | $0.00 | $0.00 |
| Tax Withholding | Common Stock F6 | 7,035 | $5.15 | $36K |
Holdings After Transaction:
Restricted Stock Units — 105,222 contracts (Direct);
Common Stock — 99,081 shares (Direct)
Footnotes (6)
- F1. Represents restricted stock units ("RSUs") granted on July 1, 2024. The restricted stock units ("RSUs") shall vest such that one-third (1/3) of the shares vest on July 1, 2025 and the remaining two-thirds (2/3) of the total number of shares vest quarterly thereafter beginning on September 1, 2025, such that one hundred percent (100%) of the RSUs will be fully vested on June 1, 2027.
- F2. Represents RSUs granted on June 1, 2024. The RSUs shall vest such that one-third (1/3) of the shares vest on June 1, 2025 and the remaining two-thirds (2/3) of the total number of shares vest quarterly thereafter beginning on September 1, 2025, such that one hundred percent (100%) of the RSUs will be fully vested on June 1, 2027.
- F3. Represents RSUs granted on July 11, 2025. The RSUs shall vest such that one-third (1/3) of the shares vest on July 11, 2026 and the remaining two-thirds (2/3) of the total number of shares vest quarterly thereafter beginning on September 1, 2026, such that one hundred percent (100%) of the RSUs will be fully vested on June 1, 2028.
- F4. In accordance with the terms of the RSU Agreement, 8,452 shares of Lantronix, Inc. common stock were withheld at vesting to cover required tax withholding.
- F5. On July 11, 2025, the reporting person was granted RSUs with performance-based vesting requirements. The number of RSUs that were eligible to vest based on certain earnings per share targets and revenue targets for fiscal 2026 shall vest such that 15,335 shares vest on September 1, 2026 and the remaining 21,469 shares vest quarterly thereafter beginning December 1, 2026 such that one hundred percent (100%) of the RSUs will be fully vested on June 1, 2028.
- F6. In accordance with the terms of the applicable RSUs with performance-based vesting requirements award agreements, 7,035 shares of Lantronix, Inc. common stock were withheld at vesting to cover required tax withholding.
Key Figures
RSUs converted (July 1, 2024 grant): 3,334 shares
RSUs converted (June 1, 2024 grant): 7,975 shares
RSUs converted (July 11, 2025 time-based): 7,118 shares
+3 more
6 metrics
RSUs converted (July 1, 2024 grant)
3,334 shares
RSUs granted July 1, 2024 that vested and converted on September 1, 2026
RSUs converted (June 1, 2024 grant)
7,975 shares
RSUs granted June 1, 2024 that vested and converted on September 1, 2026
RSUs converted (July 11, 2025 time-based)
7,118 shares
RSUs granted July 11, 2025 that vested and converted on September 1, 2026
Performance-based RSUs vested
15,335 shares
Performance-based RSUs from July 11, 2025 grant that vested on September 1, 2026
Shares withheld for tax (time-based RSUs)
8,452 shares at $5.15 per share
Common stock withheld at vesting to cover required tax withholding under RSU Agreement
Shares withheld for tax (performance-based RSUs)
7,035 shares at $5.15 per share
Common stock withheld at vesting for tax withholding on performance-based RSUs
Key Terms
Restricted Stock Units, performance-based vesting requirements, tax withholding, earnings per share targets
4 terms
Restricted Stock Units financial
"Represents restricted stock units ("RSUs") granted on July 1, 2024"
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.
performance-based vesting requirements financial
"RSUs with performance-based vesting requirements"
tax withholding financial
"shares of Lantronix, Inc. common stock were withheld at vesting to cover required tax withholding"
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.
FAQ
What insider activity at LTRX did Mathi Gurusamy report on this Form 4?
The filing reports RSU vestings for Mathi Gurusamy on September 1, 2026, where multiple RSU awards converted into Common Stock, with some shares subsequently withheld to cover tax obligations.
Which RSU grants for LTRX vested for Mathi Gurusamy in this filing?
RSUs granted on July 1, 2024, June 1, 2024, and July 11, 2025 vested in part. The July 11, 2025 grant includes performance-based RSUs tied to earnings per share and revenue targets for fiscal 2026.
Was a Rule 10b5-1 trading plan used for Mathi Gurusamy’s LTRX transactions?
No. The Form 4 indicates that no Rule 10b5-1 plan is reported for these RSU vesting and tax-withholding transactions.
What performance conditions applied to the July 11, 2025 LTRX RSU grant?
The July 11, 2025 RSUs have performance-based vesting requirements, with shares eligible to vest based on specified earnings per share targets and revenue targets for fiscal 2026, fully vesting by June 1, 2028.
AI-generated analysis. How Rhea-AI works. Not financial advice.
