Form 4: Box Inc. COO Olivia Nottebohm Reports Stock Transactions

Olivia Nottebohm, Chief Operating Officer of Box Inc., reports acquisition of Class A Common Stock and Restricted Stock Units (RSUs) in a recent SEC filing.

Summary

• Olivia Nottebohm, the Chief Operating Officer of Box Inc., filed a Form 4 with the SEC on April 17, 2025.
• The filing reports transactions involving Class A Common Stock and Restricted Stock Units (RSUs).
• On April 15, 2025, Nottebohm acquired 3,361 shares of Class A Common Stock as a bonus payment under the Fiscal Year 2025 Executive Bonus Plan, which will vest on April 22, 2025.
• Additionally, she acquired 67,500 RSUs that will vest quarterly over four years, contingent upon continuous service.
• Following these transactions, Nottebohm beneficially owns 563,237 shares of Class A Common Stock, including shares represented by RSUs.
• The filing also corrects previous overstatements of PSU achievement and shares withheld for taxes in earlier Form 4 filings.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. The filing reflects standard executive compensation practices and insider ownership, which can be seen as a positive sign of alignment with shareholder interests. The correction of previous reporting errors is also a positive sign of diligence.

Positives

• The acquisition of RSUs indicates confidence in the company's future performance.
• The vesting schedule of the RSUs incentivizes continued service and commitment from the COO.

Future Outlook

The vesting schedule of the RSUs suggests an expectation of continued service and contribution from the COO over the next four years.

Industry Context

Executive stock ownership and RSU grants are common practices in the tech industry to align management's interests with those of shareholders and incentivize long-term performance.

Comparison to Industry Standards

• Stock grants and RSU awards are a typical component of executive compensation packages in the tech industry, similar to practices at companies like Salesforce, Adobe, and Workday.
• The vesting schedules, typically ranging from three to five years, are also in line with industry norms to ensure executive retention and commitment.

Stakeholder Impact

• The transactions may have a minor positive impact on shareholder sentiment due to the increased alignment of executive and shareholder interests.
• Employees may view the RSU grants as a positive sign of the company's commitment to its executives.

Key Dates

Keywords

Form 4, SEC, BOX, Nottebohm, RSU, Stock, Beneficial Ownership, Executive Bonus Plan