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Holley Inc.·4

Apr 29, 7:04 PM ET

Kennedy Carly 4

Research Summary

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Updated

Holley (HLLY) EVP Carly Kennedy Receives RSUs; Shares Withheld

What Happened

  • Carly Kennedy, Executive Vice President & General Counsel of Holley Inc. (HLLY), was granted restricted stock units (RSUs) and simultaneously had shares withheld to cover tax obligations upon vesting. The filing reports grants of 77,277 RSUs (granted 2026-03-13) and 3,240 RSUs (granted 2026-03-21) — total 80,517 RSUs granted. To cover tax withholding on vested awards, 7,647 shares were withheld on 2026-03-04 ($26,459), 24,263 shares on 2026-03-08 ($81,524), and 26,784 shares on 2026-03-21 ($72,852). The withheld shares were dispositions (code F) to satisfy tax liabilities; the grants are reported as awards (code A).

Key Details

  • Transactions and amounts:
    • 2026-03-04: 7,647 shares withheld for taxes at $3.46 — $26,459 (F; related to vesting of 19,431 restricted shares; see F1).
    • 2026-03-08: 24,263 shares withheld for taxes at $3.36 — $81,524 (F; related to vesting of 61,656 restricted shares; see F2).
    • 2026-03-13: Grant of 77,277 RSUs (A) — $0 reported at grant; RSUs vest in equal (or nearly equal) installments on March 13 of 2027, 2028 and 2029 subject to continued employment (see F3).
    • 2026-03-21: Grant of 3,240 RSUs (A) and 26,784 shares withheld for taxes at $2.72 — $72,852 (F; see F5). Footnote F4 notes a 110% payout on performance-based RSUs for FY2025 (an extra 10% above target).
  • Net reported withheld/disposed shares: 58,694; total cash value of withheld shares reported: $180,835.
  • Shares owned after these transactions: not specified in the provided filing details.
  • Transaction codes explained: A = Award/Grant (RSUs); F = Payment of exercise price or tax liability (shares withheld to cover taxes).
  • Filing timeliness: The Form 4 was filed on 2026-04-29 for transactions beginning 2026-03-04 — the filing appears late, which reduces immediate transparency.

Context

  • These transactions are primarily tax-withholding events tied to vesting and new RSU grants. Withheld shares (F) are not open-market sales reflecting a directional bet; they are routine shares retained to cover tax obligations when awards vest. The 77,277 RSUs granted on 3/13 vest over three years (2027–2029). The filing also indicates the company achieved 110% payout on certain performance RSUs for FY2025, producing additional shares above target (F4).