Shoals Technologies Group (SHLS) CEO has 104K shares withheld for RSU tax payment
Rhea-AI Filing Summary
Shoals Technologies Group, Inc. reported that Chief Executive Officer Brandon Moss had 104,386 shares of Class A common stock delivered or withheld to cover income tax liability related to the vesting of restricted stock units. The price used for tax reporting was $8.14 per share, based on the Nasdaq Global Market closing price on the vesting date. Following this tax-withholding disposition, Moss directly holds 1,041,482 shares of Class A common stock. The company states this event does not represent an open-market sale by Moss.
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Insights
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Insider Trade Summary
Net Seller: 104,386 shares
Net Sell
1 txn
Insider
MOSS BRANDON
Role
Chief Executive Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Class A Common Stock F1, F2 | 104,386 | $8.14 | $850K |
Holdings After Transaction:
Class A Common Stock — 1,041,482 shares (Direct)
Footnotes (2)
- F1. Represents shares of common stock that have been withheld by the Issuer to satisfy the income tax obligations of the Reporting Person in connection with the vesting of restricted stock units, and does not represent a sale by the Reporting Person.
- F2. Pursuant to the Shoals Technologies Group, Inc. 2021 Long-Term Incentive Plan, the closing price of the common stock on the Nasdaq Global Market on the date of vesting is used for purposes of computing tax reporting and withholding.
Key Figures
Shares delivered/withheld for taxes: 104,386 shares
Tax valuation price: $8.14 per share
Shares held after transaction: 1,041,482 shares
+1 more
4 metrics
Shares delivered/withheld for taxes
104,386 shares
Shares of Class A common stock used to satisfy income tax obligations on RSU vesting
Tax valuation price
$8.14 per share
Closing price on Nasdaq Global Market on the vesting date used for tax reporting and withholding
Shares held after transaction
1,041,482 shares
Direct holdings of Class A common stock by CEO Brandon Moss following the tax-withholding disposition
Code F shares total
104,386 shares
Exercise price or tax liability-related disposition as summarized in transaction data
Key Terms
restricted stock units, withheld by the Issuer, 2021 Long-Term Incentive Plan, closing price
4 terms
restricted stock units financial
"in connection with the vesting of restricted stock units, and does not represent"
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.
withheld by the Issuer financial
"Represents shares of common stock that have been withheld by the Issuer"
2021 Long-Term Incentive Plan financial
"Pursuant to the Shoals Technologies Group, Inc. 2021 Long-Term Incentive Plan, the closing price"
closing price market
"the closing price of the common stock on the Nasdaq Global Market on the date"
FAQ
What did Shoals Technologies Group (SHLS) CEO Brandon Moss report in this Form 4?
Shoals Technologies Group CEO Brandon Moss reported that 104,386 shares of Class A common stock were delivered or withheld to cover income tax obligations arising from the vesting of restricted stock units.
Was the Shoals Technologies Group (SHLS) CEO’s Form 4 transaction an open-market sale?
No. The company states the 104,386 shares represent stock withheld to satisfy income tax obligations on vested restricted stock units and do not represent a sale by CEO Brandon Moss.
What plan governed the restricted stock units in the SHLS CEO Form 4 filing?
The restricted stock units that vested, triggering the 104,386-share tax-withholding event, were granted under the Shoals Technologies Group, Inc. 2021 Long-Term Incentive Plan, which specifies use of the Nasdaq closing price for tax reporting.
AI-generated analysis. How Rhea-AI works. Not financial advice.