Form 4: Cardlytics Executive Lynton Nicholas Hollmeyer Reports Stock Transactions
SEC Form 4 Filing
Cardlytics' Chief Legal & Privacy Officer, Nicholas Hollmeyer Lynton, reports the vesting of restricted stock units and subsequent sale of shares to cover tax obligations.
Summary
- On July 1, 2024, Nicholas Hollmeyer Lynton, Chief Legal & Privacy Officer of Cardlytics, Inc., had restricted stock units (RSUs) vest and subsequently sold shares to cover tax obligations.
- Specifically, 10,629, 1,578, and 581 RSUs vested, each representing a contingent right to receive one share of Cardlytics common stock.
- On July 2, 2024, Lynton sold 5,956 shares of common stock at a weighted average price of $7.953 per share, with prices ranging from $7.95 to $8.12.
- Following these transactions, Lynton directly owns 78,593 shares of Cardlytics common stock, 74,406 restricted stock units related to the 10,629 RSU award, 23,669 restricted stock units related to the 1,578 RSU award, and 4,069 restricted stock units related to the 581 RSU award.
Sentiment
Score: 5
Explanation: This is a routine filing related to stock transactions by an executive. It doesn't inherently indicate positive or negative sentiment, as the sale was primarily to cover tax obligations.
Industry Context
Form 4 filings are standard practice and provide transparency into the transactions of company insiders, allowing investors to track ownership changes and potential alignment of interests.
Comparison to Industry Standards
- Insider transactions are a common occurrence in publicly traded companies like Cardlytics.
- Monitoring these transactions is a standard practice for investors to gauge management's sentiment and potential future performance.
- The sale of shares to cover tax obligations upon RSU vesting is a typical financial planning strategy for executives.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect routine insider activity related to compensation and tax obligations.
- Employees holding RSUs may be interested in the vesting schedules and tax implications of their awards.
Key Dates
| Date | Description |
|---|---|
| 07/01/2023 | 25% of the 38,222 share RSU award vested. |
| 04/01/2023 | 25% of the 9,299 share RSU award vested. |
| 07/01/2024 | RSUs vested (10,629, 1,578, and 581). |
| 07/01/2024 | The RSU award vested or will 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. |
| 07/02/2024 | 5,956 shares sold at a weighted average price of $7.953. |
| 10/01/2024 | Next vesting date for the 10,629 RSU award. |
| 01/01/2025 | Next vesting date for the 10,629 RSU award. |
| 04/01/2025 | Next vesting date for the 10,629 RSU award. |
| 07/01/2025 | Next vesting date for the 10,629 RSU award. |
| 10/01/2025 | Next vesting date for the 10,629 RSU award. |
| 01/01/2026 | Next vesting date for the 10,629 RSU award. |
| 04/01/2026 | Next vesting date for the 10,629 RSU award. |
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