Form 4: Cardlytics CEO Amit Gupta Reports Stock Transactions
SEC Form 4 Filing
Cardlytics CEO Amit Gupta reports the vesting of restricted stock units and subsequent sale of shares to cover tax obligations.
Summary
- On October 1, 2024, Amit Gupta, CEO of Cardlytics, Inc., had 14,350 restricted stock units (RSUs) vest.
- These RSUs represent a contingent right to receive one share of Cardlytics common stock each.
- Following the vesting, Gupta sold 7,543 shares of common stock on October 2, 2024, at a weighted average price of $3.085 per share.
- The sale was solely to cover tax withholding obligations resulting from the RSU vesting.
- After these transactions, Gupta directly owns 157,376 shares of Cardlytics common stock and 86,097 restricted stock units.
- The RSUs vest in eight equal installments, with future vesting dates occurring quarterly until April 1, 2026, contingent upon continued employment.
Sentiment
Score: 5
Explanation: This is a neutral disclosure of stock transactions related to executive compensation. It doesn't inherently indicate positive or negative sentiment about the company's performance.
Future Outlook
The remaining restricted stock units will continue to vest in equal quarterly installments until April 1, 2026, contingent upon the Reporting Person's continued employment with the Issuer.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It provides transparency to investors regarding insider transactions.
Stakeholder Impact
- The stock sale may have a minor impact on the stock price due to increased selling pressure, but the effect is likely minimal given the relatively small volume of shares sold.
Key Dates
| Date | Description |
|---|---|
| 10/01/2024 | Date of RSU vesting (14,350 units) |
| 10/01/2024 | First vesting date of the RSU award |
| 10/02/2024 | Date of stock sale (7,543 shares) |
| 01/01/2025 | Third vesting date of the RSU award |
| 04/01/2025 | Fourth vesting date of the RSU award |
| 07/01/2025 | Fifth vesting date of the RSU award |
| 10/01/2025 | Sixth vesting date of the RSU award |
| 01/01/2026 | Seventh vesting date of the RSU award |
| 04/01/2026 | Final vesting date of the RSU award |
| 10/03/2024 | Date of Form 4 filing |
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