Form 4: Chegg COO Nathan Schultz Reports Tax Withholding Disposals
SEC Form 4 Filing
Chegg's Chief Operating Officer, Nathan J. Schultz, reported the disposal of common stock to cover tax obligations related to vesting restricted stock units (RSUs) and performance stock units (PSUs).
Summary
- On March 1, 2024, Nathan J. Schultz, the Chief Operating Officer of Chegg, Inc., reported transactions involving Chegg's common stock.
- These transactions involved the disposal of shares to cover tax liabilities associated with the vesting of restricted stock units (RSUs) and performance stock units (PSUs).
- Specifically, 863 shares were disposed of at a price of $9.04 to cover taxes related to RSUs, and 730 shares were disposed of at the same price for PSU-related tax obligations.
- Following these transactions, Schultz directly owns 257,785 shares of Chegg common stock.
- Schultz also indirectly owns 161,647 shares through the Schultz Family 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
This filing is a routine disclosure related to executive compensation and tax obligations, common in publicly traded companies. It reflects the standard practice of using stock-based compensation and withholding shares to cover taxes.
Key Dates
| Date | Description |
|---|---|
| 03/01/2024 | Date of transactions involving disposal of shares for tax withholding. |
| 03/05/2024 | Date of signature for the Form 4 filing. |
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