Form 4: Asana CFO Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Asana's Chief Financial Officer, Tim Ming Wan, sold shares of Class A Common Stock to cover tax obligations related to the vesting of Restricted Stock Units.
Summary
- On March 20, 2024, Tim Ming Wan, the CFO of Asana, Inc., sold 10,105 shares of Class A Common Stock at a price of $15.378 per share.
- The sale was executed to cover tax obligations arising from the vesting and settlement of Restricted Stock Units (RSUs).
- Following the transaction, Wan directly owns 753,888 shares of Class A Common Stock.
- Wan also indirectly owns 139,055 shares through The 2019 Tim Ming Wan Grantor Retained Annuity Trust Dated July 22, 2019, and 50,000 shares held by his spouse.
Sentiment
Score: 5
Explanation: The document is a routine SEC filing related to a stock sale for tax purposes, which is a neutral event.
Industry Context
Sales of shares to cover tax obligations upon vesting of RSUs are a common practice among executives of publicly traded companies.
Stakeholder Impact
- The sale of shares by the CFO could have a minor impact on shareholder sentiment, but is unlikely to be significant given the reason for the sale.
Key Dates
| Date | Description |
|---|---|
| July 22, 2019 | Date of The 2019 Tim Ming Wan Grantor Retained Annuity Trust |
| 03/20/2024 | Date of the share sale transaction |
| 03/22/2024 | Date of the signature on the Form 4 filing |
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