Airgain (NASDAQ: AIRG) CTO auto-sells shares to cover RSU tax withholding
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Airgain Inc Chief Technology Officer Ali Sadri reported an automatic sale of 1,228 shares of common stock at an average price of $4.1577 per share. The transaction was a “sell to cover” sale executed to satisfy tax withholding obligations upon vesting of restricted stock units, under a pre-existing Rule 10b5-1 instruction letter. After this non-discretionary sale, Sadri directly holds 121,802 shares, which include RSUs.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 1,228 shares ($5,106)
Net Sell
1 txn
Insider
Sadri Ali
Role
Chief Technology Officer
Sold
1,228 shs ($5K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 1,228 | $4.1577 | $5K |
Holdings After Transaction:
Common Stock — 121,802 shares (Direct)
Footnotes (1)
- The sale reported on this Form 4 represents shares sold by the Reporting Person to cover tax withholding obligations in connection with the vesting and settlement of restricted stock units (RSUs). The sale was to satisfy tax withholding obligations to be funded by a "sell to cover" transaction and does not represent a discretionary transaction by the Reporting Person. The Reporting Person has executed an instruction letter for the automatic sale of such "sell-to-cover" shares, intended to satisfy the affirmative defense conditions of Rule 10b5-1. Includes RSUs.
FAQ
What insider transaction did AIRGAIN INC (AIRG) report for Ali Sadri?
AIRGAIN INC reported that Chief Technology Officer Ali Sadri sold 1,228 shares of common stock. The sale covered tax withholding due on vesting restricted stock units, using an automatic “sell to cover” arrangement rather than a discretionary open-market trade.
Was Ali Sadri’s AIRG stock sale a discretionary trade?
The sale was not a discretionary trade by Ali Sadri. It was executed automatically to cover tax withholding obligations tied to vesting RSUs, under an instruction letter intended to meet the affirmative defense conditions of Rule 10b5-1.
What is the purpose of the Rule 10b5-1 reference in Ali Sadri’s AIRG filing?
The filing notes that Sadri used an instruction letter for automatic “sell-to-cover” transactions intended to satisfy Rule 10b5-1 affirmative defense conditions. This framework helps demonstrate the trade was pre-arranged and not based on any contemporaneous, material nonpublic information.