Qorvo CEO Gets 409,175 Skyworks Shares In Merger, Then 149,555 Are Withheld For Taxes
A Form 4 shows merger-related share issuance and tax withholding for Robert Bruggeworth, not an open-market trade.
Robert A Bruggeworth, president and CEO of Qorvo, received 409,175 shares of Skyworks common stock on Monday, when Skyworks completed its acquisition of Qorvo, according to a Form 4 filed Wednesday. The filing lists him as a director and states no transaction value for the receipt.
What the Form 4 says
The Form 4, the report insiders file after trading in their company's stock, has two entries dated Monday. The first is the 409,175-share receipt tied to the merger.
The second shows 149,555 shares disposed of at $83.91. Footnote 3 describes that as withholding to cover taxes tied to the issuance of unrestricted stock.
Footnote 2 says fractional share holdings were paid in cash. The 10b5-1 box, which would flag a pre-scheduled trading plan, is not marked.
What it changes
After both entries, Bruggeworth holds 259,620 shares on the direct ownership line. At current prices, per market data, that stake is worth about $21.7 million.
The filing shows no open-market purchase or sale. The $83.91 figure is a withholding price, not a sale he chose to make.
Skyworks closed at $83.43 in Wednesday's regular session, up 0.77%, according to market data as of 8:34 p.m. ET.
Bruggeworth's future Form 4 filings will show whether he sells any of the newly received Skyworks shares in the open market.
Sources
- Form 4 — Robert A Bruggeworth (SWKS) — SEC EDGAR
