Form 4: Couchbase Director Kevin Efrusy Reports Stock Award and Indirect Ownership Changes
SEC Form 4
Kevin Efrusy, a director at Couchbase, Inc., reported the acquisition of restricted stock units and indirect ownership changes due to distributions from investment partnerships.
Summary
- On May 30, 2024, Kevin Efrusy, a director of Couchbase, Inc., reported transactions related to the company's stock.
- Efrusy received 6,494 restricted stock units, each representing a contingent right to receive one share of Couchbase common stock upon vesting.
- These units vest on the earlier of the one-year anniversary of the grant date or the day prior to the next Annual Meeting, contingent upon continued service.
- The report also details indirect ownership through various Accel entities and The Efrusy Family Trust.
- Distributions of Couchbase common stock were made by Accel X L.P., Accel X Strategic Partners L.P., and Accel Investors 2008 L.L.C. to their respective partners on December 18, 2023, January 8, 2024, and March 7, 2024.
- These distributions were made pro rata and for no consideration, in accordance with exemptions under the Securities Exchange Act of 1934.
- Efrusy disclaims beneficial ownership of these shares except to the extent of his pecuniary interest.
Sentiment
Score: 6
Explanation: The document is a routine regulatory filing, indicating standard insider transactions. The sentiment is neutral as it primarily reflects compliance with reporting requirements.
Positives
- The award of restricted stock units to a non-employee director aligns their interests with the company's long-term performance.
Future Outlook
The restricted stock units will vest based on continued service, indicating an ongoing relationship between the director and the company.
Industry Context
Form 4 filings are standard disclosures for insiders, providing transparency into their transactions and ownership positions in the company.
Stakeholder Impact
- Shareholders are informed about the director's stock ownership and alignment with company performance through the vesting of restricted stock units.
Key Dates
| Date | Description |
|---|---|
| 10/21/2005 | Date of The Efrusy Family Trust u/a/d |
| 12/18/2023 | Distribution date of common stock by Accel X L.P., Accel X Strategic Partners L.P., and Accel Investors 2008 L.L.C. |
| 01/08/2024 | Distribution date of common stock by Accel X L.P., Accel X Strategic Partners L.P., and Accel Investors 2008 L.L.C. |
| 03/07/2024 | Distribution date of common stock by Accel X L.P., Accel X Strategic Partners L.P., and Accel Investors 2008 L.L.C. |
| 05/30/2024 | Date of the reported transaction: award of restricted stock units. |
| 06/03/2024 | Date of signature for the report. |
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