Form 4: 1stdibs CFO Thomas J. Etergino Settles Restricted Stock Units for Tax Obligations
Stock Transaction Filing
1stdibs CFO Thomas J. Etergino had shares withheld to cover tax obligations related to vesting restricted stock units, with no open market sales.
Summary
- 1stdibs CFO, Thomas J. Etergino, had a portion of his restricted stock units (RSUs) withheld by the company to cover tax obligations.
- These RSUs were granted on June 2, 2022, March 14, 2023, and March 15, 2024.
- The shares were not sold on the open market; instead, they were retained by 1stdibs to meet the tax withholding requirements.
- The vesting schedule for the RSUs granted on June 2, 2022, included 25% vesting on June 8, 2023, and the remaining 75% vesting in 12 equal quarterly installments starting September 8, 2023.
- The RSUs granted on March 14, 2023, vest in 12 equal quarterly installments starting on June 8, 2023.
- The RSUs granted on March 15, 2024, vest in 16 equal quarterly installments starting on June 8, 2024.
- The restricted stock units have no expiration date.
Sentiment
Score: 7
Explanation: The document describes a routine transaction related to executive compensation, which is neither particularly positive nor negative. It is a standard practice and does not indicate any significant issues.
Positives
- The company is managing tax obligations related to employee stock compensation effectively.
- The vesting schedule of the RSUs is clearly defined.
Risks
- The document does not indicate any risks.
Industry Context
This type of stock transaction is common for publicly traded companies as part of their executive compensation packages.
Comparison to Industry Standards
- The vesting schedule of 25% initially and then quarterly installments is a common practice in the tech industry for RSU grants.
- Many companies use net withholding to cover tax obligations on vesting RSUs, which is a standard procedure.
Stakeholder Impact
- Shareholders are not directly impacted by this transaction as no shares were sold on the open market.
- The CFO's compensation is being managed in accordance with the company's policies.
Key Dates
| Date | Description |
|---|---|
| 2022-06-02 | Date of initial RSU grant to Thomas J. Etergino. |
| 2023-03-14 | Date of second RSU grant to Thomas J. Etergino. |
| 2023-03-15 | Date of third RSU grant to Thomas J. Etergino. |
| 2023-06-08 | Initial vesting date for the first RSU grant. |
| 2023-09-08 | Start date for quarterly vesting installments for the first RSU grant. |
| 2024-06-08 | Start date for quarterly vesting installments for the second and third RSU grants. |
| 2024-12-09 | Date of the transaction where shares were withheld for tax obligations. |
| 2024-12-11 | Date of the filing. |
Keywords
restricted stock units, RSU, tax withholding, stock compensation, vesting, 1stdibs, CFO, Etergino
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