Form 4: ACV Auctions CEO George Chamoun Reports Tax-Related Share Withholding
SEC Form 4
CEO George Chamoun of ACV Auctions Inc. reports the withholding of shares to cover tax liabilities upon the vesting of restricted stock units.
Summary
- On October 1, 2024, ACV Auctions' CEO George Chamoun had shares withheld by the issuer to cover tax liabilities related to the vesting of time-based restricted stock units.
- These transactions do not represent discretionary sales by Mr. Chamoun.
- A total of 10,256, 13,401 and 9,422 Class A Common Stock shares were withheld at a price of $19.77.
- Additionally, 23,691 shares of Class B Common Stock were also withheld for tax purposes.
- Following these transactions, Mr. Chamoun beneficially owns 917,910, 904,509 and 895,087 shares of Class A Common Stock.
- Mr. Chamoun also beneficially owns 1,713,165 derivative securities related to Class B Common Stock.
Sentiment
Score: 6
Explanation: Neutral sentiment as the filing relates to routine tax-related share withholding, not indicative of significant positive or negative developments.
Industry Context
Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.
Stakeholder Impact
- The share withholding has a minor dilutive effect on existing shareholders.
Key Dates
| Date | Description |
|---|---|
| 10/01/2024 | Date of share withholding for tax liability. |
| 10/03/2024 | Date of signature for the Form 4 filing. |
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