McCandless Margaret 4

What Happened

• Margaret McCandless, General Counsel & Secretary of Local Bounti Corporation (LOCL), had 2,874 shares withheld by the company on 2026-02-01 to satisfy withholding tax related to the settlement of previously awarded restricted stock units (RSUs). The withholding was at $2.10 per share, totaling approximately $6,035.
• This was not an open-market sale or a purchase—it's a routine tax-withholding disposition that reduces the insider's issued shares to cover tax obligations.

Key Details

• Transaction date: 2026-02-01; Filing date/accession: Form filed 2026-02-03 (appears timely).
• Price per share: $2.10; Shares withheld/disposed: 2,874; Total value: ~$6,035.
• Shares owned after transaction: Not disclosed in the provided filing excerpt.
• Footnote: F1 — "Shares withheld by the Company in payment of the withholding tax liability incurred upon settlement of restricted stock units previously awarded." Code F indicates tax withholding, not a market sale.

Context

• Tax-withholding share disposals (often called "sell to cover" or share withholding) are routine when RSUs vest and do not necessarily indicate insider sentiment about the company's prospects.
• Because this was a company withholding to cover taxes, it should not be interpreted the same way as an open-market sale (which can be more informative about an insider's view).