Form 4: Box Inc. COO Olivia Nottebohm Reports Stock Sales and Tax Withholdings

Olivia Nottebohm, Chief Operating Officer of Box Inc., reports sales of Class A Common Stock and shares withheld for tax obligations.

Summary

• Olivia Nottebohm, the Chief Operating Officer of Box Inc., filed a Form 4 detailing changes in beneficial ownership.
• On April 21, 2025, Nottebohm sold 2,105 shares of Class A Common Stock at a weighted average price of $29.517 per share, ranging from $29.45 to $29.64.
• On April 22, 2025, 1,687 shares were withheld by Box Inc. to satisfy income tax obligations related to the net settlement of Restricted Stock Units (RSUs).
• Following these transactions, Nottebohm beneficially owns 559,445 shares of Class A Common Stock.
• The initial sale of shares was executed under a pre-arranged Rule 10b5-1 trading plan adopted on September 24, 2024.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the filing primarily reports routine stock sales under a pre-arranged trading plan and tax withholdings, which are common practices.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. These filings are closely watched by investors seeking insights into management's perspective on the company's stock.

Comparison to Industry Standards

• Comparing Nottebohm's transactions to other tech company executives' filings, the sale is relatively small.
• Executives at companies like Salesforce and Adobe routinely execute stock sales under 10b5-1 plans.
• The tax withholding is a standard practice, similar to what's seen at other companies with RSU programs like Workday and ServiceNow.

Stakeholder Impact

• The stock sale could have a minor impact on shareholders, potentially creating slight downward pressure on the stock price.
• The tax withholding impacts the executive's personal finances but doesn't directly affect employees, customers, suppliers, or creditors.

Key Dates

Keywords

Form 4, Beneficial Ownership, Stock Sale, Rule 10b5-1, Restricted Stock Units, BOX Inc, Nottebohm, Insider Trading