Form 4: BlackLine CFO Mark Partin Reports Stock Transactions Following Vesting of Performance-Based Restricted Stock Units
SEC Form 4 Filing
BlackLine's CFO, Mark Partin, reports the acquisition and disposal of company stock related to the vesting of performance-based restricted stock units (PRSUs) and tax liability coverage.
Summary
- On February 20, 2025, Mark Partin, CFO of BlackLine, Inc., reported transactions involving the company's common stock.
- These transactions are related to the vesting of performance-based restricted stock units (PRSUs) granted on April 4, 2022, and March 7, 2023, based on the company's achievement of certain fiscal 2024 performance targets.
- Partin acquired 8,840 shares at $49.32 related to the 2022 PRSU and 9,469 shares at $49.32 related to the 2023 PRSU.
- Additionally, 14,538 shares were disposed of at $49.32 to cover the reporting person's tax liability in connection with the vesting of PRSUs and restricted stock units.
- Following these transactions, Partin beneficially owns 209,454 shares of BlackLine common stock.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing stock transactions, with no inherent positive or negative sentiment.
Industry Context
Form 4 filings are standard practice for reporting insider transactions and provide transparency to investors regarding the buying and selling activities of company executives.
Comparison to Industry Standards
- Form 4 filings are a standard regulatory requirement for publicly traded companies in the United States, ensuring transparency in insider trading activities.
- Companies like Salesforce, Workday, and Oracle also have executives who regularly file Form 4s to report transactions in their company's stock.
- The vesting of PRSUs based on performance metrics is a common compensation practice among publicly traded companies to align executive incentives with company performance.
Stakeholder Impact
- The transactions provide transparency to shareholders regarding executive compensation and stock ownership.
- The vesting of PRSUs aligns executive incentives with company performance, potentially benefiting shareholders.
Key Dates
| Date | Description |
|---|---|
| 04/04/2022 | Date of grant for a performance-based restricted stock unit (PRSU). |
| 03/07/2023 | Date of grant for a performance-based restricted stock unit (PRSU). |
| 02/20/2025 | Date of the reported stock transactions. |
| 02/24/2025 | Date of signature on the SEC Form 4 filing. |
Keywords
BlackLine, Mark Partin, CFO, stock transactions, PRSU, performance-based restricted stock units, vesting, tax liability, beneficial ownership
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