Form 4: AvePoint Executive Chairman Xunkai Gong Sells Shares to Cover Tax Obligations

AvePoint's Executive Chairman, Xunkai Gong, disposed of 3,788 shares of common stock to cover tax liabilities related to vesting securities.

Summary

• Xunkai Gong, the Executive Chairman of AvePoint, Inc., sold 3,788 shares of common stock on December 13, 2024.
• The sale was executed at a price of $18.37 per share.
• This transaction was not a discretionary sale but rather a withholding of shares by the company to cover income tax obligations related to the vesting of securities.
• Following the transaction, Gong beneficially owns 665,707 shares of AvePoint common stock, which includes both common stock and vested and unvested Restricted Stock Units (RSUs).

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 companies to withhold shares to cover tax obligations when stock options or restricted stock units vest.

Comparison to Industry Standards

• Similar transactions are common among executives at publicly traded companies, particularly when dealing with stock-based compensation.
• Companies like Microsoft, Salesforce, and Adobe, which also use stock-based compensation, often see similar Form 4 filings from their executives.
• The number of shares sold and the price are within the typical range for such transactions, and the tax withholding mechanism is standard practice.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine tax-related sale.
• There is no direct impact on employees, customers, suppliers, or creditors.

Key Dates

Keywords

AvePoint, Xunkai Gong, stock sale, Form 4, insider trading, tax withholding, executive chairman, securities, RSU