SMITH WILLIAM W JR 4

What Happened

William W. Smith Jr., listed as a 10% owner of Smith Micro Software, had 43,366 shares withheld to satisfy tax obligations on 2026-02-27 (average price $0.523; reported value $22,680) and on 2026-03-04 forfeited 12,626 restricted shares to the issuer (no cash value). Both transactions are recorded as dispositions (not open-market sales).

Key Details

• Transaction dates and amounts:
  • 2026-02-27: 43,366 shares withheld for taxes at an average vesting price of $0.523/share (total reported $22,680). (Code F)
  • 2026-03-04: 12,626 restricted shares forfeited to the issuer at $0.00. (Code D; footnote indicates forfeiture.)
• Total shares removed from holdings: 55,992 (43,366 withheld + 12,626 forfeited); total cash value reported: $22,680.
• Shares owned following the reported transactions: not disclosed in the filing.
• Footnotes:
  • F1: Shares were withheld at an average vesting price of $0.523/share to pay income taxes.
  • F2: Restricted stock forfeited per the terms of the grant.
• Filing timeliness: The filing date is 2026-03-06. The Feb 27 withholding transaction appears to have been filed late relative to the usual 2-business-day Form 4 deadline; the Mar 4 forfeiture was reported within two business days.

Context

• Tax-withholding dispositions (code F) are routine and reflect using company shares to cover tax liabilities on vesting/exercise rather than an open-market sale.
• Forfeitures cancel previously granted restricted shares and carry no proceeds; they typically reflect grant-termination terms rather than a trading decision.
• As a 10% owner, Smith is a significant holder; these transactions are ownership-related adjustments rather than clear signals of market sentiment.