Form 4: Asana CFO Tim Wan Sells Shares to Cover Tax Obligations
SEC Filing (Form 4)
Asana's Chief Financial Officer, Tim Wan, sold 28,856 shares of Class A Common Stock on June 20, 2024, to cover tax obligations related to vesting Restricted Stock Units (RSUs).
Summary
- On June 20, 2024, Tim Wan, the Chief Financial Officer of Asana, Inc., sold 28,856 shares of Class A Common Stock at a price of $11.437 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 1,050,284 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 stock sales for tax purposes, indicating a neutral sentiment.
Industry Context
Sales of shares by company executives to cover tax obligations related to vesting equity compensation are a common practice.
Stakeholder Impact
- The stock sale may have a minor impact on shareholders due to the increased supply of shares in the market.
Key Dates
| Date | Description |
|---|---|
| July 22, 2019 | Date of The 2019 Tim Ming Wan Grantor Retained Annuity Trust. |
| June 20, 2024 | Date of the stock sale transaction. |
| June 24, 2024 | Date of the signature on the Form 4 filing. |
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