Form 4: CCC Intelligent Solutions Holdings Inc.: Executive Exercises Stock Options and Sells Shares
SEC Form 4
Marc Fredman, SVP and Chief Strategy Officer of CCC Intelligent Solutions Holdings Inc., exercised stock options and sold shares on July 30, 2024.
Summary
- On July 30, 2024, Marc Fredman, SVP, Chief Strategy Officer of CCC Intelligent Solutions Holdings Inc., exercised 15,000 Restricted Stock Units (RSUs) at a price of $11.03.
- Following the exercise, Fredman disposed of 6,646 shares to cover tax obligations at a price of $11.03.
- After these transactions, Fredman directly owns 192,092 shares of Common Stock and 15,000 derivative securities.
- The RSUs vest in four equal installments on each anniversary of July 30, 2021, contingent upon continued service.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the filing simply reports routine stock transactions by an executive. There is no indication of positive or negative implications for the company.
Future Outlook
The RSUs vest in 25% increments on each anniversary of July 30, 2021, contingent upon the Reporting Person's continued service.
Industry Context
This filing is a routine disclosure of stock transactions by a company executive, which is common in publicly traded companies. It provides transparency into the executive's holdings and transactions in the company's stock.
Comparison to Industry Standards
- Executive stock option exercises and sales are a common practice in publicly traded companies, particularly in the technology sector.
- Similar transactions are regularly reported by executives at companies like Salesforce (CRM), Microsoft (MSFT), and Oracle (ORCL).
- The vesting schedule of 25% annually is a standard vesting arrangement for RSUs.
- The sale of shares to cover tax obligations is also a typical occurrence following the exercise of stock options or vesting of RSUs.
Stakeholder Impact
- The transactions have a minimal direct impact on shareholders, employees, customers, suppliers, and creditors.
- The filing provides transparency to shareholders regarding executive compensation and stock ownership.
Key Dates
| Date | Description |
|---|---|
| July 30, 2021 | Initial grant date for Restricted Stock Units (RSUs) with vesting occurring annually thereafter. |
| July 30, 2024 | Date of transaction: exercise of RSUs and disposal of shares. |
| August 01, 2024 | Date of signature for the Form 4 filing. |
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