Form 4: Cardlytics CFO Alexis DeSieno Reports Stock Transactions

Cardlytics' Chief Financial Officer, Alexis DeSieno, reports the vesting of restricted stock units and subsequent sale of shares to cover tax obligations.

Summary

• Alexis DeSieno, CFO of Cardlytics, Inc., reported transactions involving Cardlytics' common stock.
• On August 14, 2024, 175,000 restricted stock units (RSUs) vested, each representing a contingent right to receive one share of common stock.
• To cover withholding tax obligations resulting from the RSU vesting, DeSieno sold 90,912 shares on August 15, 2024, at a weighted average price of $3.708 per share.
• The remaining 175,000 RSUs will vest in equal amounts quarterly over the one-year period following the Anniversary Date, provided that the Reporting Person remains employed by the Issuer on such vesting date.
• Following these transactions, DeSieno directly owns 90,986 shares of Cardlytics common stock and 175,000 restricted stock units.

Sentiment

Score: 5

Explanation: This is a routine filing related to executive compensation and tax obligations, with no indication of unusual or concerning activity. Therefore, the sentiment is neutral.

Future Outlook

The remaining 50% of the original RSU award (175,000 shares) will vest in equal amounts quarterly over the one-year period following August 14, 2024, contingent upon continued employment.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. The sale of shares to cover tax obligations upon vesting of RSUs is a common practice.

Key Dates