NETSTREIT (NYSE: NTST) CEO exercises RSUs and withholds shares to cover taxes
Rhea-AI Filing Summary
NETSTREIT Corp. President and CEO Mark Manheimer exercised previously granted restricted stock units into common stock. He converted 4,842 RSUs into 4,842 shares of common stock, increasing his direct common stock holdings to 410,260 shares and his RSU balance to 171,317 units. To satisfy mandatory tax withholding on the RSU vesting, 1,906 shares were withheld by the company at a price of $20.91 per share, which the footnotes clarify was not an open-market sale.
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Insights
Routine RSU vesting and tax withholding, no open-market trading signal.
NETSTREIT’s CEO Mark Manheimer exercised 4,842 restricted stock units into common shares, a standard step in equity compensation. Each RSU converts into one share, reflecting the ongoing vesting of awards granted under the company’s incentive plan.
Of these shares, 1,906 were withheld by the issuer at $20.91 per share to cover mandatory tax obligations, explicitly noted as not an open-market sale. Following the transactions, Manheimer directly holds 410,260 common shares, indicating this filing reflects compensation mechanics rather than discretionary buying or selling activity.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 4,842 | $0.00 | -- |
| Exercise | Common Stock | 4,842 | $0.00 | -- |
| Tax Withholding | Common Stock | 1,906 | $20.91 | $40K |
Footnotes (1)
- Each restricted stock unit ("RSU") represents a contingent right to receive one share of common stock upon vesting. Shares withheld by the issuer to satisfy the mandatory tax withholding requirement upon vesting of RSUs previously granted to the reporting person. This is not an open market sale of securities. On March 8, 2024, the reporting person was granted 14,526 RSUs pursuant to the Issuer's Amended and Restated 2019 Omnibus Incentive Compensation Plan, vesting in substantially equal installments on each of the first three anniversaries of the grant date, generally subject to continued service as an officer through each applicable vesting date.