PACS (PACS) legal chief has 66,471 shares withheld to cover RSU taxes
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
PACS Group, Inc. Chief Legal Officer and Secretary John Todd Mitchell reported a routine tax-related share disposition. On the reported date, 66,471 shares of common stock were withheld at a value of $33.14 per share to cover tax liabilities tied to vesting restricted stock units. After this withholding, he directly held 883,718 shares of PACS Group common stock, indicating he retained a substantial equity position.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
MITCHELL JOHN TODD
Role
Chief Legal Officer & Sec.
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Common Stock | 66,471 | $33.14 | $2.20M |
Holdings After Transaction:
Common Stock — 883,718 shares (Direct)
Footnotes (1)
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Key Figures
Shares withheld for taxes: 66,471 shares
Withholding price per share: $33.14 per share
Shares held after transaction: 883,718 shares
3 metrics
Shares withheld for taxes
66,471 shares
Tax withholding on RSU vesting
Withholding price per share
$33.14 per share
Value used for tax-liability shares
Shares held after transaction
883,718 shares
Directly owned common stock following withholding
Key Terms
restricted stock units, withholding of securities, tax liability, Form 4
4 terms
restricted stock units financial
"upon the vesting of previously granted and reported restricted stock units"
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.
withholding of securities financial
"Payment of tax liability through the withholding of securities upon the vesting"
tax liability financial
"Payment of tax liability through the withholding of securities upon the vesting"
Form 4 regulatory
"INSIDER FILING DATA (Form 4):"
Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.
FAQ
What insider transaction did PACS Chief Legal Officer report on Form 4?
PACS Group’s Chief Legal Officer reported a tax-related share disposition. 66,471 common shares were withheld to satisfy tax liabilities upon vesting of previously granted restricted stock units, rather than sold in the open market, leaving him with 883,718 shares directly held.
Was the PACS (PACS) insider transaction an open-market sale?
The transaction was not an open-market sale. Shares were withheld by the company to pay tax liabilities triggered by vesting restricted stock units, a common administrative process, rather than a discretionary decision to sell shares on the stock market.
What does transaction code F mean in the PACS Form 4 filing?
Transaction code F indicates shares were disposed of to pay taxes or exercise costs. In this PACS Group filing, it reflects withholding of common shares to satisfy tax liabilities when previously granted restricted stock units vested, not an open-market sale.