Universal Electronics (NASDAQ: UEIC) COO logs RSU vesting and tax-share sale
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
UNIVERSAL ELECTRONICS INC COO and Interim CEO Richard K. Carnifax reported routine equity transactions tied to restricted stock vesting. On May 7, 2026, he exercised 1,166 Restricted Stock Units, receiving the same number of common shares at a stated price of $0.00 per share. On May 8, 2026, he sold 362 common shares at a weighted average price of $4.2582 per share solely to cover applicable taxes and fees in a sell-to-cover transaction that was not a discretionary sale. After these transactions, he directly owned 16,793 common shares and an aggregate of 3,498 RSUs, from an original grant of 14,000 RSUs made on February 7, 2024 that vests over three years.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 362 shares ($1,541)
Net Sell
3 txns
Insider
Carnifax Richard K
Role
COO and Interim CEO
Sold
362 shs ($2K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 362 | $4.2582 | $2K |
| Exercise | Restricted Stock Units | 1,166 | $0.00 | -- |
| Exercise | Common Stock | 1,166 | $0.00 | -- |
Holdings After Transaction:
Common Stock — 16,793 shares (Direct, null);
Restricted Stock Units — 3,498 shares (Direct, null)
Footnotes (1)
- Each restricted stock unit ("RSU") represents a contingent right to receive one share of UEI common stock. Represents shares sold solely to cover applicable taxes and fees in connection with the vesting of RSUs. This sale was effected pursuant to a sell-to-cover transaction and does not represent a discretionary sale by the Reporting Person. Reflects aggregate reporting of multiple open market transactions. The price reported is the weighted average sale price of sales ranging from $4.25 to $4.26 per share. The Reporting Person hereby undertakes to provide, upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each price. On February 7, 2024, the Reporting Person was granted 14,000 RSUs, vesting over 3 years with 33.33% vesting on the first anniversary of the grant date and 8.33% vesting on each quarterly anniversary of the grant date thereafter. This figure represents an aggregate number of RSUs held by the Reporting Person.
Key Figures
Shares sold: 362 shares
Weighted average sale price: $4.2582 per share
RSUs converted: 1,166 RSUs
+3 more
6 metrics
Shares sold
362 shares
Open-market sale on May 8, 2026 to cover taxes
Weighted average sale price
$4.2582 per share
Sale prices ranged from $4.25 to $4.26
RSUs converted
1,166 RSUs
Exercised into 1,166 common shares on May 7, 2026
Common shares after transactions
16,793 shares
Direct ownership following reported transactions
RSUs held after transactions
3,498 RSUs
Aggregate RSUs remaining in Carnifax’s holdings
Original RSU grant
14,000 RSUs
Granted February 7, 2024, vesting over three years
Key Terms
Restricted Stock Units, sell-to-cover transaction, weighted average sale price, open market transactions
4 terms
Restricted Stock Units financial
"The filing reports transactions involving 1,166 Restricted Stock Units converted into common stock."
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.
sell-to-cover transaction financial
"Represents shares sold solely to cover applicable taxes and fees in connection with the vesting of RSUs."
A sell-to-cover transaction is when a person granted company stock (for example as part of compensation or option exercise) immediately sells enough of those shares to pay required taxes or exercise costs and keeps the rest. Think of it like cashing part of a bonus to cover the tax bill; it provides necessary cash without the holder needing outside funds. Investors watch these sales because they increase trading volume and slightly reduce insider holdings, but they often reflect routine tax or cost management rather than a judgment on the company’s prospects.
weighted average sale price financial
"The price reported is the weighted average sale price of sales ranging from $4.25 to $4.26 per share."
open market transactions financial
"Reflects aggregate reporting of multiple open market transactions."
Open market transactions are the buying and selling of a company’s shares or other securities conducted on public exchanges or through the wider market rather than through private deals or negotiated placements. They matter to investors because these trades change supply and demand in real time—like shoppers affecting a store’s inventory—and so can move prices, signal management or investor sentiment, affect liquidity, and alter ownership stakes that influence future returns and risk.
FAQ
What did UEIC executive Richard Carnifax report in this Form 4 filing?
Richard K. Carnifax reported RSU vesting and a small share sale. He exercised 1,166 RSUs into common stock, then sold 362 shares to cover taxes, leaving 16,793 common shares and 3,498 RSUs directly owned.
What RSU grant underlies Richard Carnifax’s current Universal Electronics holdings?
The filing explains that on February 7, 2024, Carnifax was granted 14,000 RSUs. These vest over three years, with 33.33% vesting on the first anniversary and 8.33% vesting on each quarterly anniversary of the grant date thereafter.
How many Restricted Stock Units did Carnifax convert to UEIC common stock?
He converted 1,166 Restricted Stock Units into 1,166 shares of UEIC common stock. Each RSU represents a contingent right to receive one share of Universal Electronics common stock upon vesting, according to the filing footnotes.