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

Christopher Stagno, Chief Accounting Officer at Aspen Technology, sold 79 shares of common stock to cover tax obligations related to vesting of restricted stock units.

Summary

• Christopher Stagno, the Chief Accounting Officer of Aspen Technology, Inc., sold 79 shares of the company's common stock on December 31, 2024.
• The sale was executed at a price of $248.95 per share.
• This transaction was to cover the minimum statutory tax withholding requirements associated with the vesting of restricted stock units.
• Following the transaction, Mr. Stagno directly owns 5,814 shares of Aspen Technology stock.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to executive compensation and tax obligations, which is neither positive nor negative for the company's overall performance. It is a neutral event.

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

• Similar transactions are common across the technology industry, where stock-based compensation is a significant part of executive pay.
• Many executives at comparable companies such as Autodesk, Cadence Design Systems, and Ansys regularly file Form 4s for similar transactions related to stock vesting and tax obligations.

Stakeholder Impact

• This transaction has a minimal impact on shareholders as it is a routine sale to cover tax obligations.

Key Dates

Keywords

Aspen Technology, AZPN, Christopher Stagno, stock sale, insider trading, Form 4, tax withholding, restricted stock units