Form 4: Cardlytics CFO Alexis DeSieno Reports Stock Transactions
SEC Form 4
Cardlytics' Chief Financial Officer, Alexis DeSieno, reports the acquisition and disposal of common stock and restricted stock units to cover tax obligations.
Summary
- On July 1, 2024, Alexis DeSieno, CFO of Cardlytics, Inc., acquired 14,349 shares of common stock through the vesting of restricted stock units (RSUs).
- On July 2, 2024, DeSieno sold 7,451 shares of common stock at a weighted average price of $7.953 per share to satisfy tax withholding obligations related to the RSU vesting.
- Following these transactions, DeSieno directly owns 6,898 shares of Cardlytics common stock and 100,447 restricted stock units.
- The RSUs vest in eight equal installments from July 1, 2024, to April 1, 2026, contingent upon continued employment.
Sentiment
Score: 5
Explanation: This is a neutral filing detailing routine stock transactions by an executive. It doesn't inherently indicate positive or negative sentiment about the company's performance.
Future Outlook
The reporting person will continue to vest in eight equal installments on July 1, 2024, October 1, 2024, January 1, 2025, April 1, 2025, July 1, 2025, October 1, 2025, January 1, 2026 and April 1, 2026, provided that the Reporting Person remains employed by the Issuer on such vesting date.
Management Comments
- The Reporting Person did not sell shares for any other purpose other than to satisfy tax withholding obligations.
Industry Context
This filing is a routine disclosure of insider transactions, which are common for executives receiving stock-based compensation.
Comparison to Industry Standards
- Similar transactions are regularly reported by executives at publicly traded companies like Cardlytics, such as those at advertising technology firms like The Trade Desk or LiveRamp, where stock-based compensation is a significant part of executive pay.
- The sale of shares to cover tax obligations is a standard practice, aligning with typical executive compensation strategies in the tech industry.
Key Dates
| Date | Description |
|---|---|
| 07/01/2024 | Acquisition of 14,349 shares of common stock through RSU vesting. |
| 07/01/2024 | First vesting date of restricted stock units. |
| 07/02/2024 | Sale of 7,451 shares of common stock to cover tax obligations. |
| 10/01/2024 | Second vesting date of restricted stock units. |
| 01/01/2025 | Third vesting date of restricted stock units. |
| 04/01/2025 | Fourth vesting date of restricted stock units. |
| 07/01/2025 | Fifth vesting date of restricted stock units. |
| 10/01/2025 | Sixth vesting date of restricted stock units. |
| 01/01/2026 | Seventh vesting date of restricted stock units. |
| 04/01/2026 | Eighth vesting date of restricted stock units. |
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