Zamarro Christina L 4
Research Summary
AI-generated summary
Goodyear (GT) CFO Christina Zamarro Converts Units; 17.7K Shares Withheld
What Happened
- Christina L. Zamarro, Chief Financial Officer of Goodyear Tire & Rubber Co. (GT), converted/ exercised equity units into 37,682 shares of common stock. No cash exercise price was paid ($0.00 per share).
- To satisfy withholding tax obligations, 17,710 of those shares were withheld by the issuer at an effective value of $9.33 per share, totaling $165,234.
- The filing shows the derivative instrument conversion and the related withholding; the conversion represents 96% of the base number of units granted and is payable entirely in common stock (see footnote F3).
Key Details
- Transaction date: February 2, 2026; Form 4 filed February 4, 2026 (timely filing).
- Shares converted (acquired): 37,682 at $0.00 (derivative conversion/exercise).
- Shares withheld for taxes (disposed): 17,710 at $9.33 — value ~$165,234 (footnote F1: shares withheld by issuer to pay withholding taxes).
- Footnote F3: conversion of 96% of the base units payable 100% in common stock.
- Footnote F2: post-transaction account balance reported by the plan trustee for Goodyear's salaried 401(k) plan is noted in the filing (specific total not listed here).
- Filing does not indicate a market sale for cash proceeds; the only disposition was tax withholding.
Context
- This was effectively a conversion/settlement of equity units into shares, not an open-market sale; the withholding of shares to pay taxes is a routine administrative transaction (cashless tax withholding).
- Because the exercise/conversion price was $0.00 and shares were withheld rather than sold on the open market, this action is not a sell signal of shares for cash proceeds by the insider.