Corcoran Daniel 4
Research Summary
AI-generated summary
Certara (CERT) SVP Daniel Corcoran Receives RSUs; Shares Withheld
What Happened
- Daniel Corcoran, Senior Vice President and General Counsel of Certara, had restricted stock units (RSUs) vest and convert into common shares on June 1, 2026. A total of 22,830 shares were issued to him at $0.00 per share (conversion of RSUs). To satisfy tax withholding, 12,103 shares were withheld and surrendered at $5.82 per share for a cash value of $70,439 (reported as dispositions totaling $24,502 and $45,937). The RSU conversion/settlement entries are reported as derivative conversions (code M) and the withholding as tax payment (code F).
Key Details
- Transaction date: June 1, 2026.
- Acquired: 22,830 shares upon RSU settlement (reported at $0.00 per share).
- Withheld/Disposed for taxes: 12,103 shares at $5.82 each, total ~$70,439.
- Footnotes: RSUs were granted June 1, 2024 under the 2020 Incentive Plan. Footnote F1 describes a 3‑year staggered vesting (one‑third vested/settled prior and on June 1, 2026; remainder in 2027). Footnote F3 describes a grant with a two‑part vesting (half vested May 31, 2025; half vested June 1, 2026). Withholding is exempt under Rule 16b‑3 (F2).
- Shares owned after transaction: Not specified in the provided filing.
- Filing timeliness: Report filed June 2, 2026 for a June 1, 2026 event — appears timely.
Context
- This was a scheduled RSU vest/settlement, not an open‑market purchase or voluntary sale. The withholding of shares to cover taxes is a routine cashless settlement method and does not necessarily signal a change in insider sentiment. The derivative codes reflect conversion/settlement of RSUs rather than option exercises for cash.