Form 4: Chegg CFO David Longo Reports Tax-Related Stock Disposal
SEC Form 4 Filing
CFO of Chegg, David Longo, reports the disposal of 1,329 common stock shares to cover tax obligations related to vesting restricted stock units.
Summary
- David Longo, CFO & Treasurer of Chegg, Inc., reported a transaction on June 12, 2024, involving the disposal of 1,329 shares of common stock.
- The disposal was not a sale by Longo but an automatic withholding by Chegg to cover federal and state tax obligations resulting from the vesting and settlement of restricted stock units (RSUs).
- The price per share for the transaction was $3.43.
- Following the transaction, Longo beneficially owns 321,275 shares of Chegg common stock directly.
Sentiment
Score: 5
Explanation: This is a routine filing related to tax obligations, so it doesn't significantly impact sentiment. It's a neutral event.
Industry Context
Form 4 filings are standard practice for reporting transactions by company insiders, providing transparency to investors about their trading activities.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a standard procedure for covering tax obligations.
Key Dates
| Date | Description |
|---|---|
| 06/12/2024 | Date of the transaction involving the disposal of common stock. |
| 06/14/2024 | Date of signature on the Form 4 filing. |
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