© Reuters.
ChargePoint (NYSE:) Holdings, Inc. (NYSE:CHPT) Chief Accounting Officer Henrik Gerdes has sold a portion of his company stock, a recent filing with the Securities and Exchange Commission reveals. The transaction, which took place on March 21, involved the sale of 5,607 shares at a price of $1.87 per share, amounting to a total of $10,485.
This sale by Gerdes was not a discretionary trade but was instead required to cover tax withholding obligations associated with the vesting and settlement of restricted stock units. According to the footnote in the filing, ChargePoint’s equity incentive plans mandate that tax withholdings be satisfied through a “sell to cover” transaction.
Following the transaction, Gerdes still holds 220,115 shares of ChargePoint stock. The sale represents a routine financial move to address tax obligations that arise from the vesting of equity…
