MicroVision (NASDAQ: MVIS) CEO shares sold by issuer to cover award taxes
Rhea-AI Filing Summary
MICROVISION, INC. director and CEO Glen W. DeVos reported a tax-related share disposition. The issuer completed a nondiscretionary sell-to-cover transaction tied to an equity award, withholding and selling 183,233 shares of common stock at a weighted average price of $0.3621 per share, in multiple trades between $0.3509 and $0.3779. After this tax-withholding event, DeVos directly holds 537,937 shares of MicroVision common stock.
Positive
- None.
Negative
- None.
Insights
Routine tax withholding; no open-market selling signal.
The transaction involves an F-code tax-withholding disposition, where the issuer sold shares to cover taxes from an equity award. This is described as a "withholding tax-related nondiscretionary sell-to-cover" under the award agreement, indicating a mechanical process rather than a discretionary trade.
The filing shows 183,233 shares of common stock sold by the issuer at a weighted average price of $0.3621, across trades ranging from $0.3509 to $0.3779. Following the transaction, CEO Glen W. DeVos still holds 537,937 shares directly, suggesting his remaining stake is substantial relative to the withheld amount.
Because this was not an open-market sale initiated by the CEO, but a tax settlement mechanism, it carries weak informational value about his view of MicroVision’s prospects. The filing mainly updates the public on his adjusted share count and the mechanics of the award-related tax payment.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Common Stock | 183,233 | $0.3621 | $66K |
Footnotes (1)
- Represents a withholding tax-related nondiscretionary sell-to-cover transaction completed by the Issuer in accordance with the terms of the award agreement. The price reported in column 4 is a weighted average price. These shares were sold by the Issuer in multiple transactions at prices ranging from $0.3509 to $0.3779, inclusive.