Form 4: Aspen Technology CFO Sells Shares to Cover Tax Obligations

Aspen Technology's Chief Financial Officer, David John Baker, sold 246 shares of common stock on December 31, 2024, to cover tax obligations related to vesting of restricted stock units.

Summary

• David John Baker, the Senior Vice President and Chief Financial Officer of Aspen Technology, Inc., sold 246 shares of common stock on December 31, 2024.
• The sale was executed at a price of $248.95 per share.
• This transaction was to cover minimum statutory tax withholding requirements on the vesting of restricted stock units.
• Following the transaction, Mr. Baker directly owns 11,590 shares of Aspen Technology common stock.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction for tax purposes, which is neither positive nor negative for the company's overall performance. It is a neutral event from an investment perspective.

Industry Context

This is a routine transaction for executives who receive stock-based compensation. It is common for executives to sell shares to cover tax obligations when restricted stock units vest.

Comparison to Industry Standards

• Executive stock sales to cover tax obligations are a common practice across publicly traded companies.
• The number of shares sold is relatively small compared to the total holdings of the executive, which is typical for these types of transactions.
• Similar transactions are regularly reported by executives at other technology companies such as Oracle, SAP, and Salesforce.

Stakeholder Impact

• The transaction is unlikely to have a significant impact on shareholders, employees, customers, suppliers, or creditors as it is a routine sale to cover tax obligations.

Key Dates

Keywords

Aspen Technology, AZPN, David John Baker, CFO, stock sale, insider trading, Form 4, restricted stock units, tax withholding