ChargePoint Holdings, Inc. (NYSE:CHPT) executive Rebecca Chavez, who serves as Chief Legal Officer and Corporate Secretary, recently sold 4,774 shares of the company’s stock, fetching a total of $6,670. The transactions were made to satisfy tax withholding obligations related to the vesting of restricted stock units, according to latest filings.
The sales occurred on June 21, 2024, and the shares were sold at a weighted average price of $1.3972 each. The shares were sold in multiple transactions at prices between $1.35 and $1.40. After the sale, Chavez still owns a substantial amount of ChargePoint stock, with 966,916 shares still in his possession.
It is important for investors to know that these stock sales were not discretionary transactions by Chavez. Instead, they were needed to cover tax liabilities under the company’s equity incentive plans, which provide a “sell to cover” transaction for such purposes. This is a common practice for executives receiving stock-based compensation to ensure tax obligations are met in a timely manner.
ChargePoint Holdings, Inc. specializes in electric vehicle charging infrastructure and technologies. The company has played a key role in the growing electric vehicle market, providing charging solutions at home, at work and in public spaces.
ChargePoint investors and stakeholders may request more detailed information on the exact prices at which the shares sold within the reported range, as the executive has agreed to provide full details upon request to the issuer and Securities personnel and Exchange Commission.
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