Form 4: Couchbase CFO Gregory N. Henry Sells Shares to Cover Tax Obligations

Gregory N. Henry, SVP & Chief Financial Officer of Couchbase, Inc., sold shares to cover tax withholding obligations related to the vesting of restricted stock units.

Summary

• On September 16, 2024, Gregory N. Henry, the SVP & Chief Financial Officer of Couchbase, Inc., disposed of 23,837 shares of common stock.
• The shares were sold at a price of $14.4 to cover tax withholding obligations associated with the vesting and settlement of restricted stock units.
• Following the transaction, Henry directly owns 22,390 shares and indirectly owns 369,223 shares through The Henry Family Trust.

Sentiment

Score: 7

Explanation: The sentiment is neutral. The transaction is a routine sale of shares to cover tax obligations, which is a common practice and doesn't necessarily reflect a change in the executive's outlook on the company.

Management Comments

• The sale was to satisfy tax withholding obligations to be funded by a 'sell to cover' transaction and does not represent a discretionary transaction by the Reporting Person.

Industry Context

Sales of shares to cover tax obligations upon vesting of restricted stock units are a common practice among corporate executives. This transaction is a routine part of executive compensation and tax management.

Comparison to Industry Standards

• Similar 'sell to cover' transactions are frequently observed among executives at comparable tech companies like MongoDB, Datadog, and Snowflake.
• These transactions are generally viewed as standard practice and do not necessarily indicate a change in the executive's long-term outlook on the company.

Stakeholder Impact

• The transaction is unlikely to have a significant impact on shareholders, as it is a routine sale to cover tax obligations.

Key Dates