Synaptics CEO Sells Shares Following Stock Vesting
Rahul G. Patel, the President and CEO of Synaptics Incorporated (NASDAQ:SYNA), sold approximately 17,578 shares valued at around $1.9 million following a vesting event on August 17, according to an SEC Form 4 filing. The transaction was primarily driven by tax withholding requirements after the settlement of performance stock units and included a secondary sale under a pre-arranged Rule 10b5-1 trading plan. Patel still holds approximately 188,791 shares in Synaptics with an estimated market value of $19.06 million as of August 19. The company reported trailing twelve-month revenue of $1.2 billion and a net loss of -$490.8 million for the same period. The stock has appreciated by about 50% over the past year, despite ongoing financial challenges. Patel's recent equity vesting included an additional 120,000 shares, which provided liquidity to cover tax obligations and facilitate further sales.
Tickers: $SYNA
Topics: CEO activity SEC filings stock sales