Form 4: AppLovin Corp CEO Arash Adam Foroughi Reports Share Withholding for Tax Obligations

Arash Adam Foroughi, CEO and Chairperson of AppLovin Corp, reports the withholding of 1,536,353 Class A Common Stock shares to cover income tax obligations related to vested RSUs and PSUs.

Summary

• On May 20, 2024, Arash Adam Foroughi, CEO and Chairperson of AppLovin Corp, reported a transaction involving Class A Common Stock.
• The transaction involved the withholding of 1,536,353 shares by the issuer to satisfy income tax obligations related to the vesting and net settlement of previously reported Restricted Stock Units (RSUs) and Performance Restricted Stock Units (PSUs).
• Following the transaction, Foroughi directly owns 4,891,369 shares of Class A Common Stock.
• Additionally, Foroughi indirectly owns shares through various trusts for the benefit of his children: 3,036,000 shares held by The JAF Children's Trust, 1,536,000 shares held by The WHK Trust, and 786,000 shares held by The OD Trust.
• Foroughi disclaims beneficial ownership of the shares held in these trusts.

Sentiment

Score: 5

Explanation: This is a neutral report on a routine transaction (tax withholding). It doesn't inherently indicate positive or negative sentiment.

Industry Context

This is a routine SEC Form 4 filing related to insider transactions. It is common for company executives to have shares withheld to cover tax obligations when RSUs and PSUs vest.

Stakeholder Impact

• The transaction itself has minimal direct impact on stakeholders, as it is a standard procedure for tax obligations.
• Indirectly, stakeholders may be interested in the executive's holdings and transactions as indicators of confidence in the company.

Key Dates