Weave COO has shares withheld for tax obligations
Weave Communications Chief Operating Officer Marcus Bertilson reported a routine tax-related share disposition.
Rhea-AI Filing Summary
Weave Communications Chief Operating Officer Marcus Bertilson reported a routine tax-related share disposition. On this Form 4, 19,849 shares of common stock were withheld by the company at $4.88 per share to cover tax obligations from vested restricted stock units. This was an exempt transaction under Rule 16b-3(e), not an open-market sale. After the withholding, Bertilson directly holds 455,038 shares of Weave Communications common stock.
Positive
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Negative
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Insider Trade Summary
Exercise Price or Tax Liability: 19,849 shares
Exercise Price or Tax Liability
1 txn
Insider
Bertilson Marcus
Role
Chief Operating Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise Price or Tax Liability | Common Stock | 19,849 | $4.88 | $97K |
Holdings After Transaction:
Common Stock — 455,038 shares (Direct)
Footnotes (1)
- F1. In an exempt transaction pursuant to Rule 16b-3(e), shares of the Issuer's Common Stock were withheld by the Issuer to satisfy tax obligations relating to the acquisition of shares of the Issuer's Common Stock in connection with the settlement of the vested portion of restricted stock units.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Weave Communications (WEAV) COO Marcus Bertilson report on this Form 4?
Marcus Bertilson reported a tax-related share withholding, not an open-market trade. The company withheld 19,849 common shares to satisfy tax obligations tied to vested restricted stock units, leaving him with 455,038 directly held shares after the transaction.
Was the WEAV COO’s Form 4 transaction a stock sale in the open market?
No, the transaction was not an open-market sale. Shares were withheld by Weave Communications to cover tax liabilities from restricted stock units settling, in an exempt transaction under Rule 16b-3(e), which is a routine compensation-related event for executives.
What is the significance of Rule 16b-3(e) in the WEAV COO Form 4 filing?
Rule 16b-3(e) allows certain insider transactions related to equity compensation to be exempt from short-swing profit rules. The filing notes the share withholding for taxes was an exempt transaction under this rule, emphasizing it was a routine compensation and tax event, not speculative trading.
AI-generated analysis. How Rhea-AI works. Not financial advice.