Chart Industries (GTLS) CTO surrenders shares to cover tax withholding
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Chart Industries' Chief Technology Officer, Joseph A. Belling, reported a small, routine share disposition related to taxes. On this Form 4, he surrendered 34 shares of common stock at $207.09 per share to cover tax withholding liabilities, in an exempt transaction under Rule 16b-3. After this withholding event, he directly holds 15,833 shares of Chart Industries common stock. This was not an open-market sale, but a standard mechanism tied to equity compensation.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Belling Joseph A
Role
Chief Technology Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Common stock, par value $0.01 per share | 34 | $207.09 | $7K |
Holdings After Transaction:
Common stock, par value $0.01 per share — 15,833 shares (Direct)
Footnotes (1)
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Key Figures
Shares surrendered for tax withholding: 34 shares
Transaction price per share: $207.09 per share
Shares held after transaction: 15,833 shares
3 metrics
Shares surrendered for tax withholding
34 shares
Tax-withholding disposition on common stock
Transaction price per share
$207.09 per share
Value used for tax-withholding disposition
Shares held after transaction
15,833 shares
Direct ownership following tax-withholding event
Key Terms
tax withholding liabilities, Rule 16b-3, Common stock, par value $0.01 per share
3 terms
tax withholding liabilities financial
"The reporting person surrendered 34 shares to satisfy tax withholding liabilities"
Rule 16b-3 regulatory
"in an exempt transaction under Rule 16b-3"
Rule 16b-3 is a Securities and Exchange Commission regulation that exempts certain routine, pre-approved transactions by company insiders from automatic liability for short-term trading profits. It acts like a safe harbor: if an insider follows a formal plan or the board approves specific transactions in advance, profits from buying and selling company stock within six months are not automatically reclaimed. Investors care because the rule clarifies when insider trades are permissible and reduces uncertainty about potential clawbacks.
FAQ
What insider transaction did Chart Industries (GTLS) report for Joseph A. Belling?
Chart Industries’ Chief Technology Officer Joseph A. Belling surrendered 34 shares of common stock to cover tax withholding liabilities. The disposition was reported on a Form 4 and classified as an exempt transaction under Rule 16b-3 tied to equity compensation, not an open-market trade.
Was the GTLS insider transaction by Joseph A. Belling an open-market sale?
No, the 34-share disposition by Joseph A. Belling was not an open-market sale. The shares were surrendered specifically to satisfy tax withholding liabilities in connection with equity compensation, as described in the Form 4 footnote citing an exempt Rule 16b-3 transaction.
What does Rule 16b-3 mean in the context of the GTLS Form 4 filing?
Rule 16b-3 provides an exemption for certain insider transactions tied to compensation plans, such as tax-withholding surrenders. In this case, Joseph A. Belling’s 34-share disposition to cover tax liabilities is described as an exempt transaction under Rule 16b-3, indicating a routine administrative event.