Synaptics' Top Lawyer Sold Stock as a $7 Billion Merger Moves Toward Closing. Here's What to Know
This disposition follows the vesting of 41,734 shares and includes 14,218 shares withheld for taxes.
Synaptics, a global semiconductor solutions provider headquartered in San Jose, California, announced that its chief legal officer, Lisa Bodensteiner, sold 20,274 shares of the company's common stock on August 19. The transaction, valued at $2.21 million based on the weighted average sale price of $108.50 per share, occurred prior to the company's anticipated $7 billion merger closing.
Synaptics, which employs approximately 1,700 people, reported $1.2 billion in trailing twelve months (TTM) revenue. The company has been heavily investing in research and development to maintain its competitive edge in human-machine interface and connectivity technologies. Despite near-term profitability challenges, Synaptics has seen a 50% increase in its share price over the past year, reflecting investor confidence in its technology platform and market potential.
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