Latch (LTCH) Priyen N. Patel Receives 1.5M RSU Award

What Happened
Priyen N. Patel, Chief Strategy & Legal Officer of Latch, was granted 1,500,000 restricted stock units (RSUs) on August 24, 2026 (reported in the Form 4 filed Aug 26, 2026). The RSUs are reported at $0.00 acquisition value. In connection with vesting/settlement activity, 36,676 shares were withheld (disposed) at $0.15 per share to satisfy tax withholding obligations, representing $5,501. The grant was approved on August 24, 2026.

Key Details

• Transaction date(s): August 24, 2026 (grant and tax-withholding share disposition). Form 4 filed August 26, 2026 (appears timely).
• Grant: 1,500,000 RSUs (reported acquisition at $0.00).
• Tax withholding: 36,676 shares withheld at $0.15/share for $5,501 (reported as disposition to satisfy taxes).
• Shares owned after transaction: not specified in the filing.
• Footnotes: F1—RSUs vest in 12 substantially equal quarterly installments over three years, with vesting commencement March 31, 2026, subject to continued service; F2—shares withheld represent shares surrendered to satisfy tax withholding on vesting/settlement.
• Filing timeliness: filing date (Aug 26) follows the reported transaction date (Aug 24) and shows no indication of a late filing in the document.

Context

• This was an equity award (RSUs), not an open-market purchase or sale; RSUs deliver shares upon vesting and are commonly used for compensation.
• The withholding of 36,676 shares to satisfy taxes is a routine cashless/net settlement step and reduces the net shares the insider will receive once RSUs vest.
• The RSU grant vests quarterly over three years (12 installments), so future reported vesting or withholding events may follow as service conditions are met.