Sandisk CLO logs tax-withholding share dispositions
Sandisk Corp Chief Legal Officer and Secretary Bernard Shek reported two tax-related share dispositions under a Form 4.
Rhea-AI Filing Summary
Sandisk Corp Chief Legal Officer and Secretary Bernard Shek reported two tax-related share dispositions under a Form 4. He used share withholding to cover tax obligations when equity awards vested, rather than selling shares in the open market.
The transactions involved 117 shares of common stock on February 20 and 107 shares on February 21, both coded as tax-withholding dispositions. After these withholdings, Shek directly owned 33,628 shares of Sandisk common stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
Exercise Price or Tax Liability: 224 shares
Exercise Price or Tax Liability
2 txns
Insider
Shek Bernard
Role
Chief Legal Officer & Secty
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise Price or Tax Liability | Common Stock | 107 | $649.97 | $70K |
| Exercise Price or Tax Liability | Common Stock | 117 | $649.97 | $76K |
Holdings After Transaction:
Common Stock — 33,628 shares (Direct)
Footnotes (1)
- F1. Payment of tax obligation by withholding securities incident to the vesting of securities in accordance with Rule 16b-3(e).
FAQ
What did Sandisk (SNDK) executive Bernard Shek report in this Form 4 filing?
Bernard Shek reported two tax-withholding dispositions of Sandisk common stock. These transactions satisfied tax obligations tied to vesting equity awards, using shares instead of cash, and were not open-market sales of stock.
What is Bernard Shek’s role at Sandisk (SNDK) in this insider filing?
Bernard Shek is identified as Sandisk’s Chief Legal Officer and Secretary. His Form 4 filing reflects routine administrative share withholdings used to pay tax obligations when his equity compensation awards vested.
Were Bernard Shek’s Sandisk (SNDK) transactions open-market sales?
No, the transactions were not open-market sales. They were tax-withholding dispositions, where shares were withheld to pay tax obligations linked to vesting securities, as described under Rule 16b-3(e) in the filing footnote.
AI-generated analysis. How Rhea-AI works. Not financial advice.