Two Harbors director sells 7,034 shares for taxes
Two Harbors Investment Corp. director Stephen G. Kasnet reported an open-market sale of 7,034 shares of common stock at $12.57 per share.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Form Type
4
Rhea-AI Filing Summary
Two Harbors Investment Corp. director Stephen G. Kasnet reported an open-market sale of 7,034 shares of common stock at $12.57 per share. According to the footnote, the sale was made to cover income tax liabilities triggered by the vesting of restricted stock units and was executed under a pre-arranged Rule 10b5-1 trading plan. After this transaction, he directly holds 95,993 shares of common stock and 10,000 shares of Series A Preferred Stock.
Insider Trade Summary 10b5-1
Net Seller: 7,034 shares
Net Sell
2 txns
Insider
KASNET STEPHEN G
Role
Director
Sold
7,034 shs ($88K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common stock, par value $0.01 per share | 7,034 | $12.57 | $88K |
| holding | Series A Preferred Stock, par value $0.01 per share | -- | -- | -- |
Holdings After Transaction:
Common stock, par value $0.01 per share — 95,993 shares (Direct);
Series A Preferred Stock, par value $0.01 per share — 10,000 shares (Direct)
Footnotes (1)
- F1. The reporting person sold the shares to satisfy income tax liabilities incurred as a result of the vesting of restricted stock units. The sale reported on this Form 4 was effected pursuant to trading instructions given by the reporting person on August 10, 2023 in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934.
Key Figures
Shares sold: 7,034 shares
Sale price: $12.57 per share
Common shares held after: 95,993 shares
+2 more
5 metrics
Shares sold
7,034 shares
Open-market sale of common stock
Sale price
$12.57 per share
Price for the 7,034 common shares sold
Common shares held after
95,993 shares
Direct common stock holdings post-transaction
Preferred shares held
10,000 shares
Series A Preferred Stock holding entry
Net buy/sell direction
Net sell of 7,034 shares
Transaction summary for this Form 4
Key Terms
Rule 10b5-1, restricted stock units, open-market sale, Series A Preferred Stock
4 terms
Rule 10b5-1 regulatory
"trading instructions given by the reporting person on August 10, 2023 in accordance with Rule 10b5-1"
Rule 10b5-1 is a regulation that allows company insiders to buy or sell their shares at predetermined times, even if they have access to non-public information. It acts like setting a schedule in advance for transactions, helping prevent accusations of unfair trading. This rule provides a way for insiders to plan trades transparently, giving investors confidence that these transactions are not based on hidden information.
restricted stock units financial
"income tax liabilities incurred as a result of the vesting of restricted stock units"
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.
open-market sale financial
"transaction_action": "open-market sale""
An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.
Series A Preferred Stock financial
"Series A Preferred Stock, par value $0.01 per share"
Series A preferred stock is a type of ownership share in a company that gives investors certain advantages, such as priority in receiving profits or getting their money back if the company is sold or goes bankrupt. It is often issued during early funding stages to attract investors by offering more security than common shares. This stock matters to investors because it provides a safer way to invest while still holding potential for future gains.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did TWO Harbors director Stephen Kasnet report?
Stephen G. Kasnet reported selling 7,034 shares of Two Harbors common stock. The shares were sold in an open-market transaction at $12.57 per share to address tax obligations from restricted stock unit vesting.
Was the TWO Harbors insider sale made under a Rule 10b5-1 plan?
Yes, the sale was executed pursuant to instructions under a Rule 10b5-1 trading plan. The instructions were provided on August 10, 2023, indicating the transaction was pre-planned rather than an opportunistic market-timing decision.
What preferred stock holdings does the TWO Harbors director report?
The director reports holding 10,000 shares of Two Harbors Series A Preferred Stock. This preferred position is listed as a holding entry in the Form 4 and is separate from his common stock ownership.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Accepted by SEC EDGAR
Learn about SEC filing dates