Smithfield Foods (SFD) officer uses 822 shares to cover RSU tax
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Smithfield Foods Inc Chief Accounting Officer Robert Allen Brobst Jr reported a tax-related share disposition on common stock. On this date, 822 shares were withheld by the company at a value of $23.65 per share to cover tax obligations from vesting restricted stock units. After this withholding, Brobst held 10,778 shares of Smithfield Foods common stock directly.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Brobst Robert Allen JR
Role
Chief Accounting Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Common Stock | 822 | $23.65 | $19K |
Holdings After Transaction:
Common Stock — 10,778 shares (Direct, null)
Footnotes (1)
- [object Object]
Key Figures
Shares withheld for tax: 822 shares
Withholding share value: $23.65 per share
Shares held after transaction: 10,778 shares
+1 more
4 metrics
Shares withheld for tax
822 shares
Withholding to satisfy tax obligations on RSU vesting
Withholding share value
$23.65 per share
Value used for 822 withheld common shares
Shares held after transaction
10,778 shares
Direct holdings of common stock after tax withholding
Tax-withholding share count
822 shares
Form 4 transactionSummary taxWithholdingShares
Key Terms
restricted stock units ("RSUs"), tax withholding obligations, Common Stock, Chief Accounting Officer
4 terms
restricted stock units ("RSUs") financial
"in connection with the vesting of restricted stock units ("RSUs")."
Restricted stock units (RSUs) are a company promise to give an employee shares of stock (or cash equivalent) in the future, but only after certain conditions—usually staying with the company for a set time or hitting performance goals—are met. Investors watch RSUs because when they vest they increase the number of shares outstanding and can lead insiders to sell shares, affecting share price, company dilution and the true cost of employee pay.
tax withholding obligations financial
"withholding of shares by the Issuer to satisfy tax withholding obligations in connection"
Common Stock financial
"security_title": "Common Stock""
Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.
Chief Accounting Officer financial
"officer_title": "Chief Accounting Officer""
A chief accounting officer is a senior executive responsible for overseeing a company's financial records and ensuring all accounting practices are accurate and compliant with regulations. They play a key role in preparing financial reports that help investors understand the company's financial health, much like a trusted navigator guiding a ship through complex waters. Their work ensures transparency and trust in the company's financial information.
FAQ
What insider transaction did Smithfield Foods (SFD) report for Robert Allen Brobst Jr?
Smithfield Foods reported that Chief Accounting Officer Robert Allen Brobst Jr had 822 shares of common stock withheld. These shares were used to satisfy tax withholding obligations triggered by the vesting of restricted stock units, not sold in the open market.
Was the Smithfield Foods (SFD) insider transaction an open-market sale?
No, the transaction was not an open-market sale. The 822 shares of Smithfield Foods common stock were withheld by the issuer solely to satisfy tax withholding obligations related to vesting restricted stock units, with no shares sold in the market.
What does the Form 4 footnote say about the Smithfield Foods (SFD) transaction?
The footnote explains that the 822 shares represent withholding by Smithfield Foods to satisfy tax obligations tied to vesting restricted stock units. It clarifies that no shares were sold in the market as a result of this vesting and tax withholding.
What transaction code was used in the Smithfield Foods (SFD) Form 4 filing?
The filing uses transaction code F for the common stock entry. This code corresponds to payment of exercise price or tax liability by delivering securities, consistent with the issuer withholding 822 shares to cover tax obligations on vesting restricted stock units.