Form 4: Cardlytics CFO Alexis DeSieno Acquires 114,796 Restricted Stock Units
SEC Form 4 Filing
Cardlytics' Chief Financial Officer, Alexis DeSieno, acquired 114,796 restricted stock units (RSUs) on March 22, 2024, according to a recent SEC filing.
Summary
- Alexis DeSieno, the Chief Financial Officer of Cardlytics, Inc. (CDLX), acquired 114,796 restricted stock units (RSUs) on March 22, 2024.
- Each RSU represents a contingent right to receive one share of Cardlytics common stock or its cash equivalent, at the Issuer's election.
- The RSUs vest in eight equal installments starting July 1, 2024, and continuing quarterly until April 1, 2026, contingent upon continued employment with Cardlytics.
Sentiment
Score: 7
Explanation: The document itself is neutral, simply reporting a transaction. However, the granting of RSUs to a key executive is generally viewed positively as it aligns management's interests with shareholders.
Positives
- The grant of RSUs to the CFO aligns her interests with those of the shareholders, incentivizing her to contribute to the company's long-term success.
Future Outlook
The RSUs vest over time, incentivizing the CFO to remain with the company and contribute to its future success.
Industry Context
Equity compensation is a common practice in the tech industry to attract and retain top talent. The vesting schedule encourages long-term commitment from key executives.
Comparison to Industry Standards
- Granting RSUs to executives is a standard practice among publicly traded companies, particularly in the technology sector.
- Companies like Google (Alphabet), Meta (Facebook), and Amazon also use RSU grants as part of their compensation packages for key personnel.
- The vesting schedule of these RSUs (quarterly over two years) is fairly typical, aligning with industry norms for executive compensation.
Stakeholder Impact
- Shareholders may view the RSU grant positively as it incentivizes the CFO to focus on long-term value creation.
- Employees may see the grant as a sign of confidence in the company's future.
Key Dates
| Date | Description |
|---|---|
| 03/22/2024 | Date of transaction: Alexis DeSieno acquired 114,796 restricted stock units. |
| 03/25/2024 | Date of filing: Form 4 filing date. |
| 07/01/2024 | First vesting date for the restricted stock units. |
| 10/01/2024 | Second vesting date for the restricted stock units. |
| 01/01/2025 | Third vesting date for the restricted stock units. |
| 04/01/2025 | Fourth vesting date for the restricted stock units. |
| 07/01/2025 | Fifth vesting date for the restricted stock units. |
| 10/01/2025 | Sixth vesting date for the restricted stock units. |
| 01/01/2026 | Seventh vesting date for the restricted stock units. |
| 04/01/2026 | Final vesting date for the restricted stock units. |
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