Life360 (LIF) CFO Burke reports 6,087-share tax withholding, holds over 229K shares
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Life360, Inc.'s Chief Financial Officer, Russell John Burke, reported a routine tax-withholding share disposition tied to restricted stock unit vesting. On this Form 4, 6,087 shares of common stock were withheld by the company at $45.37 per share to cover income tax obligations related to previously reported RSUs, and were not sold in the market.
After this withholding, Burke directly holds 115,974 shares of Life360 common stock and also has 113,361 shares held indirectly through the Russell John Burke Revocable Trust & Jeanette L Calandra Revocable Trust ELD as tenants in common. The filing also notes 106,291 restricted stock units outstanding, each representing a right to receive one share upon vesting.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Burke Russell John
Role
Chief Financial Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Common stock | 6,087 | $45.37 | $276K |
| holding | Common stock | -- | -- | -- |
Holdings After Transaction:
Common stock — 115,974 shares (Direct, null);
Common stock — 113,361 shares (Indirect, Held by the Russell John Burke Revocable Trust & Jeanette L Calandra Revocable Trust ELD as TIC)
Footnotes (1)
- This transaction is not a sale of shares by the Reporting Person. Instead, this represents shares that have been withheld by the Issuer to satisfy its income tax withholding and remittance obligations in connection with the vesting and net settlement of previously reported restricted stock units ("RSUs"). Includes 106,291 restricted stock units previously granted, each of which represents a contingent right to receive one share of the Issuer's common stock upon vesting.
Key Figures
Tax-withheld shares: 6,087 shares
Withholding share value: $45.37 per share
Direct holdings after transaction: 115,974 shares
+2 more
5 metrics
Tax-withheld shares
6,087 shares
Shares withheld to satisfy income tax obligations on RSU vesting
Withholding share value
$45.37 per share
Value per share for the 6,087 shares withheld for taxes
Direct holdings after transaction
115,974 shares
CFO’s directly owned Life360 common stock following tax withholding
Indirect holdings after transaction
113,361 shares
Shares held via the Russell John Burke & Jeanette L Calandra revocable trusts
Outstanding RSUs
106,291 units
Restricted stock units, each representing a right to one common share upon vesting
Key Terms
restricted stock units, income tax withholding, net settlement, indirect ownership, +1 more
5 terms
restricted stock units financial
"Includes 106,291 restricted stock units previously granted, each of which represents a contingent right to receive one share"
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.
income tax withholding financial
"shares that have been withheld by the Issuer to satisfy its income tax withholding and remittance obligations"
net settlement financial
"in connection with the vesting and net settlement of previously reported restricted stock units ("RSUs")"
indirect ownership financial
"Held by the Russell John Burke Revocable Trust & Jeanette L Calandra Revocable Trust ELD as TIC"
tenants in common financial
"Revocable Trust & Jeanette L Calandra Revocable Trust ELD as TIC"
FAQ
What did Life360 (LIF) CFO Russell John Burke report in this Form 4?
Life360 CFO Russell John Burke reported a routine tax-related share disposition. The company withheld 6,087 shares of common stock to satisfy income tax obligations arising from the vesting and settlement of previously granted restricted stock units, rather than an open-market sale of stock.
Was the Life360 (LIF) CFO’s Form 4 transaction an actual stock sale?
No, the filing explicitly states the transaction was not a sale by the CFO. Instead, Life360 withheld 6,087 shares to pay income tax withholding and remittance obligations triggered by the vesting and net settlement of earlier reported restricted stock units.
What restricted stock units (RSUs) are disclosed for Life360 (LIF) CFO in this filing?
The Form 4 notes 106,291 restricted stock units previously granted to the CFO. Each RSU represents a contingent right to receive one share of Life360 common stock upon vesting, adding to his potential future equity exposure as these units continue to vest over time.