Park Dental Partners (PARK) CFO reports 53,833 restricted shares in insider filing
Rhea-AI Filing Summary
Park Dental Partners, Inc. director and Chief Financial Officer Christopher Bernander filed an initial insider ownership report showing beneficial ownership of 53,833 shares of common stock, all in the form of restricted stock. These restricted shares vest 25% upon completion of the company’s initial public offering and then 6.25% each quarter thereafter. The award is also subject to accelerated vesting in connection with a change in control under the company’s 2023 Restricted Stock Plan and the related award agreement. The restricted stock does not carry voting rights until the shares vest and Bernander becomes the record owner of those vested shares.
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FAQ
What insider position is disclosed for Park Dental Partners (PARK)?
The filing shows that Christopher Bernander is both a director and the Chief Financial Officer of Park Dental Partners, Inc., and this is his initial statement of beneficial ownership.
How many Park Dental Partners (PARK) shares does Christopher Bernander beneficially own?
Christopher Bernander beneficially owns 53,833 shares of common stock, all reported as restricted stock granted to him.
What are the vesting terms of Christopher Bernander’s restricted stock in PARK?
The 53,833 restricted shares vest as follows: 25% vests upon completion of Park Dental Partners’ initial public offering, and the remaining shares vest at a rate of 6.25% per quarter thereafter.
Does Christopher Bernander’s restricted stock in Park Dental Partners have accelerated vesting?
Yes. The restricted stock is subject to accelerated vesting in connection with a change in control of Park Dental Partners, as provided in the company’s 2023 Restricted Stock Plan and the applicable award agreement.
Do the restricted shares held by Christopher Bernander currently have voting rights in PARK?
No. The filing states that the restricted stock does not confer any voting rights until the applicable shares have vested and Bernander has become the record owner of those vested shares.
Is Christopher Bernander’s ownership in Park Dental Partners held directly or indirectly?
The 53,833 shares of common stock are reported as held with direct ownership by Christopher Bernander.