Form 4: Bitcoin Depot CFO Receives Stock Awards and RSU Grants

Glen Leibowitz, CFO of Bitcoin Depot Inc., reports acquisition of Class A common stock and grant of restricted stock units (RSUs) on April 1, 2024.

Summary

• Glen Leibowitz, the Chief Financial Officer of Bitcoin Depot Inc., reported changes in beneficial ownership on April 3, 2024.
• On April 1, 2024, Leibowitz acquired 31,473 shares of Class A common stock due to the vesting of performance-based stock units from the 2023 performance period.
• Additionally, Leibowitz was granted 48,913 restricted stock units (RSUs) under the Bitcoin Depot Inc. 2023 Omnibus Incentive Plan on April 1, 2024.
• These RSUs vest quarterly, with 25% vesting on each of the first four quarterly anniversaries of the vesting commencement date.
• Following these transactions, Leibowitz directly owns 116,543 shares of Class A common stock.
• The report was filed pursuant to Section 16(a) of the Securities Exchange Act of 1934.

Sentiment

Score: 7

Explanation: The document reflects standard executive compensation practices, which are generally viewed neutrally to positively as they align management interests with shareholders. The vesting of performance-based units suggests the company met certain goals.

Positives

• The vesting of performance-based stock units suggests that the company met certain performance goals for the 2023 performance period.
• The grant of RSUs aligns the CFO's interests with those of the shareholders, incentivizing him to improve the company's performance.

Future Outlook

The RSUs will vest periodically over the next four years, contingent on continued service.

Industry Context

Stock awards and RSU grants are common compensation practices for executives in publicly traded companies, aligning their interests with shareholders and incentivizing performance.

Comparison to Industry Standards

• Stock-based compensation is a standard practice across various industries, particularly in technology and finance, to attract and retain top talent.
• Companies like Coinbase, Block, and Robinhood also utilize stock options and RSU grants as part of their executive compensation packages.
• The vesting schedules and performance metrics associated with these grants vary depending on the company's specific goals and industry practices.

Stakeholder Impact

• Shareholders may view the stock awards and RSU grants positively as they incentivize management to improve company performance.
• Employees may be motivated by the potential for similar compensation opportunities.

Key Dates