Form 4: Chegg CEO Daniel Rosensweig Reports Stock Transactions Related to Tax Withholding
SEC Filing
Daniel Rosensweig, CEO of Chegg, reports the withholding of shares by the issuer to cover tax obligations related to the vesting of restricted stock units (RSUs) and performance stock units (PSUs).
Summary
- This Form 4 filing details changes in beneficial ownership of Chegg, Inc. stock by CEO Daniel Rosensweig.
- The reported transactions involve the withholding of shares by Chegg to cover federal and state tax obligations related to the vesting of RSUs and PSUs.
- On March 1, 2024, 1,499 shares were withheld at a price of $9.04 per share related to RSUs.
- Additionally, on the same date, 1,952 shares were withheld at a price of $9.04 per share related to PSUs.
- Rosensweig directly owns 1,854,335 shares of Chegg common stock after these transactions.
- He also indirectly owns 25,000 shares through The Rosensweig Family Revocable Trust and 48,842 shares through The Rosensweig 2012 Irrevocable Children's Trust, where he serves as a Co-Trustee.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions for tax purposes, indicating a neutral sentiment.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates standard tax withholding procedures related to equity compensation.
Key Dates
| Date | Description |
|---|---|
| 03/12/2007 | Date of The Rosensweig Family Revocable Trust U/A/D |
| 11/06/2012 | Date of The Rosensweig 2012 Irrevocable Children's Trust U/A/D |
| 03/01/2024 | Date of stock transactions (withholding of shares for tax obligations) |
| 03/05/2024 | Date of Form 4 signature |
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