4/A: Chegg CEO Nathan Schultz Amends Beneficial Ownership Filing, Details Family Trust Share Transfer
Statement of Changes in Beneficial Ownership Amendment
Chegg CEO and President Nathan J. Schultz filed an amended Form 4, disclosing the transfer of 144,448 shares of common stock to a family trust and updating his total beneficial ownership.
Summary
- Nathan J. Schultz, CEO and President of Chegg, Inc. (CHGG), filed an amended Form 4 with the U.S. Securities and Exchange Commission (SEC).
- The amendment, filed on June 6, 2025, updates an original filing from May 27, 2025.
- On May 22, 2025, Mr. Schultz transferred 144,448 shares of Chegg common stock to the Nathan Schultz and Debbie Schultz Co-TTEE Schultz Family Trust at a price of $0.
- Following this transaction, Mr. Schultz directly beneficially owns 1,555,497 shares of common stock.
- This direct ownership includes 8,000 shares acquired under the 2013 Amended and Restated Chegg, Inc. Employee Stock Purchase Plan (ESPP) on May 15, 2025.
- Additionally, Mr. Schultz indirectly beneficially owns 306,095 shares through the Schultz Family Trust, where he serves as a Co-Trustee.
Sentiment
Score: 5
Explanation: The filing is neutral as it reports a routine insider transaction (transfer to a family trust) and an ESPP acquisition, neither of which inherently indicates positive or negative company performance or outlook.
Positives
- The acquisition of 8,000 shares under the Employee Stock Purchase Plan (ESPP) on May 15, 2025, indicates continued participation by the CEO in employee stock programs.
Future Outlook
N/A. This filing reports past insider transactions and does not provide forward-looking statements or guidance regarding the company's future performance or strategic direction.
Industry Context
N/A. This is an insider transaction report specific to Chegg, Inc. and does not provide broader industry context or trends.
Related Party Transactions
- Nathan J. Schultz, CEO and President, transferred 144,448 shares of common stock to the Nathan Schultz and Debbie Schultz Co-TTEE Schultz Family Trust, where he is a Co-Trustee. This is an intra-family transfer.
Stakeholder Impact
- Shareholders: The transfer of shares to a family trust by the CEO is a non-market transaction and is unlikely to have a direct material impact on the company's share price or market liquidity. It represents a change in the form of ownership for a portion of the CEO's holdings rather than a sale into the open market.
Key Dates
| Date | Description |
|---|---|
| 05/15/2025 | Date 8,000 shares were acquired under the Chegg, Inc. Employee Stock Purchase Plan (ESPP). |
| 05/22/2025 | Date of transfer of 144,448 shares of common stock to the Nathan Schultz and Debbie Schultz Co-TTEE Schultz Family Trust. |
| 05/27/2025 | Date of original Form 4 filing. |
| 06/06/2025 | Date of the amended Form 4/A filing. |
Keywords
Chegg, CHGG, Nathan J. Schultz, SEC Form 4/A, Beneficial Ownership, Insider Transaction, Stock Transfer, Family Trust, Employee Stock Purchase Plan
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