FRANKEL ADAM B 4
Research Summary
AI-generated summary
Chime (CHYM) GC Adam Frankel Withholds 12,438 Shares for Taxes
What Happened
Adam B. Frankel, General Counsel of Chime Financial, had 12,438 shares withheld to cover tax obligations in connection with the net settlement of RSUs. The withholding was executed at $17.88 per share, representing approximately $222,391. This transaction is reported under code F (tax withholding) and does not represent an open-market sale by the reporting person.
Key Details
- Transaction date: 2026-05-15; Form 4 filed: 2026-05-18 (Accession 0001241526-26-000010).
- Withheld shares: 12,438 at $17.88 per share; total value ≈ $222,391.
- Shares owned after transaction: not specified in the supplied filing details.
- Footnote F1: Shares were withheld by the issuer to satisfy tax withholding and remittance obligations; not a sale by the reporting person.
- Footnote F2: Securities include RSUs (each RSU is a contingent right to one Class A share, subject to vesting).
- Transaction code: F (tax withholding). No indication in the provided data that the filing was late.
Context
This was a routine issuer withholding to cover tax liabilities from RSU settlement (a common, non-discretionary action). It should not be read as a market-sale decision by the insider and therefore provides limited information about insider sentiment.