Sterling Infrastructure (STRL) CFO has 556 shares withheld for taxes
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Sterling Infrastructure’s CFO Nicholas M. Grindstaff reported a tax-withholding disposition of 556 shares of common stock at $682.29 per share. The shares were retained by the company to satisfy tax obligations from a restricted stock unit release. He now holds 6,037 shares directly, including 4,735 that remain subject to sale restrictions and potential forfeiture.
Positive
- None.
Negative
- None.
Insights
Analyzing...
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
GRINDSTAFF NICHOLAS M
Role
Chief Financial Officer (CFO)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Common Stock | 556 | $682.29 | $379K |
Holdings After Transaction:
Common Stock — 6,037 shares (Direct)
Footnotes (1)
- These shares were retained by the Company at the election of the Reporting Person pursuant to a procedure approved by the Compensation Committee of the Board of Directors to satisfy the Company's tax withholding requirements (based on the closing price of the Company's common stock on the release date) arising from the release of restrictions as permitted by the plan pursuant to which the restricted stock unit award was made. Of these shares, 4,735 shares are subject to restrictions on their sale or other transfer and to forfeiture under certain circumstances.
Key Figures
Tax-withheld shares: 556 shares
Price per share: $682.29
Shares held after transaction: 6,037 shares
+1 more
4 metrics
Tax-withheld shares
556 shares
Shares retained by the company to satisfy tax withholding from RSU release
Price per share
$682.29
Value used for the 556-share tax-withholding disposition
Shares held after transaction
6,037 shares
Total common shares directly owned by the CFO following the disposition
Restricted shares outstanding
4,735 shares
Portion of the CFO’s holdings subject to restrictions and potential forfeiture
Key Terms
tax withholding requirements, restricted stock unit award, release of restrictions, forfeiture
4 terms
tax withholding requirements financial
"to satisfy the Company's tax withholding requirements (based on the closing price"
restricted stock unit award financial
"arising from the release of restrictions as permitted by the plan pursuant to which the restricted stock unit award was made"
A restricted stock unit award is a promise by a company to give an employee a specified number of company shares at a future date if certain conditions are met, such as staying with the company or hitting performance goals. For investors, these awards matter because they can increase the total number of shares outstanding when converted, diluting existing holders, and they align employees’ incentives with shareholders’ interests much like giving a rising bonus that becomes real only after conditions are satisfied.
release of restrictions financial
"arising from the release of restrictions as permitted by the plan"
forfeiture financial
"shares are subject to restrictions on their sale or other transfer and to forfeiture under certain circumstances"
FAQ
What insider transaction did STRL’s CFO Nicholas Grindstaff report?
CFO Nicholas Grindstaff reported a tax-withholding disposition of 556 shares of Sterling Infrastructure common stock at $682.29 per share. The company retained these shares to cover tax withholding triggered by a restricted stock unit release approved under its compensation plan.
Was the STRL CFO’s Form 4 transaction an open-market sale?
No. The 556 shares were retained by the company to satisfy tax withholding requirements from a restricted stock unit vesting, not an open-market sale. The Form 4 describes this as a payment of tax liability by delivering securities to Sterling Infrastructure.