Form 4: AppLovin Corp Executive Katie Kihorany Jansen Reports Share Withholding for Tax Obligations

Katie Kihorany Jansen, Chief Marketing Officer of AppLovin Corp, reports the withholding of shares to cover income tax obligations related to the vesting of Restricted Stock Units.

Summary

• Katie Kihorany Jansen, Chief Marketing Officer of AppLovin Corp, filed a Form 4.
• The report details the withholding of 14,826 Class A Common Stock shares on May 20, 2024, to cover income tax obligations related to the vesting of previously reported Restricted Stock Units (RSUs).
• The shares were withheld by the issuer at a price of $84.57 per share.
• Following the transaction, Jansen directly owns 1,249,458 shares of Class A Common Stock and indirectly owns 6,086 shares through The Jansen Family Trust.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to executive compensation and tax obligations, which is neutral to slightly positive as it indicates the vesting of previously granted equity.

Industry Context

Form 4 filings are a routine part of executive compensation and provide transparency into the transactions of company insiders. This filing indicates a standard process of withholding shares to cover tax obligations upon the vesting of RSUs, a common practice in publicly traded companies.

Comparison to Industry Standards

• Executive compensation practices, including the use of RSUs and subsequent share withholding for tax purposes, are standard across the technology industry.
• Companies like Meta, Google, and Snap also utilize RSUs as part of their compensation packages, and their executives routinely report similar transactions via Form 4 filings.
• The specific number of shares withheld and the price per share are unique to AppLovin and the individual executive's compensation agreement.

Stakeholder Impact

• The transaction has a minimal direct impact on shareholders, as it is a standard procedure for covering tax obligations related to executive compensation.
• Employees holding RSUs may be interested in the details of how share withholding affects their net compensation.

Key Dates