GoPro (GPRO) CFO McGee surrenders shares to cover RSU tax bill
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
GoPro, Inc. executive Brian McGee reported a tax-related share disposition under a pre-existing equity award. On the transaction date, 25,735 shares of Class A Common Stock were relinquished at an indicated price of $0.8066 per share to cover federal and state tax withholding tied to the vesting of restricted stock units. These shares were cancelled by GoPro in exchange for the company paying the withholding obligations, and were not sold in an open-market transaction. Following this disposition, McGee directly held 748,155 shares, and an additional 276 shares were held indirectly by his spouse.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
MCGEE BRIAN
Role
EVP, CFO and COO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Class A Common Stock | 25,735 | $0.8066 | $21K |
| holding | Class A Common Stock | -- | -- | -- |
Holdings After Transaction:
Class A Common Stock — 748,155 shares (Direct);
Class A Common Stock — 276 shares (Indirect, By Spouse)
Footnotes (1)
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FAQ
What insider transaction did GoPro (GPRO) EVP, CFO and COO Brian McGee report?
Brian McGee reported an exempt tax-withholding disposition of 25,735 GoPro Class A shares. The shares were relinquished and cancelled so the company could pay federal and state tax obligations from vesting restricted stock units, rather than being sold on the open market.
Was Brian McGee’s GoPro (GPRO) Form 4 transaction an open-market sale?
No, the Form 4 describes an exempt tax-withholding disposition, not an open-market sale. Shares were surrendered back to GoPro and cancelled so the issuer could cover McGee’s federal and state tax withholding from the vesting of restricted stock units.
What does the tax-withholding code F mean in Brian McGee’s GoPro (GPRO) Form 4?
Transaction code F indicates shares were used to pay exercise price or tax liability. In this case, McGee’s shares were relinquished and cancelled so GoPro could satisfy tax withholding from vesting restricted stock units, rather than being sold to another market participant.