Form 4: CS Disco CFO Lafair Sells Shares to Cover Tax Obligations

CS Disco's Chief Financial Officer, Michael Lafair, sold 1,639 shares to cover tax liabilities from a vesting stock award.

Summary

• Michael Lafair, the EVP and Chief Financial Officer of CS Disco, Inc., sold 1,639 shares of common stock on November 30, 2024.
• The sale was executed at a price of $5.92 per share.
• The shares were withheld by the company to cover tax obligations related to the vesting of a previously granted restricted stock award.
• This transaction was not a discretionary sale by Mr. Lafair.
• Following the transaction, Mr. Lafair directly owns 779,421 shares of CS Disco common stock.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction related to tax obligations and does not indicate any positive or negative sentiment.

Industry Context

This is a routine transaction for executives who receive stock-based compensation. It is common for companies to withhold shares to cover tax obligations upon vesting.

Comparison to Industry Standards

• Tax withholding on vesting stock awards is a standard practice across publicly traded companies.
• Many companies use similar mechanisms to manage tax liabilities for their employees who receive stock-based compensation.
• The number of shares sold is relatively small compared to the total shares owned by the executive, which is typical for these types of transactions.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine sale to cover tax obligations.
• The sale does not indicate any change in the executive's confidence in the company.

Key Dates

Keywords

CS Disco, Michael Lafair, stock sale, tax liability, restricted stock, insider transaction, Form 4