Form 4: CS Disco Executive Sells Shares to Cover Taxes After RSU Vesting

Karen Herckis, EVP and Chief HR Officer at CS Disco, sold 3,615 shares of common stock to cover taxes and fees associated with the vesting of restricted stock units.

Summary

• Karen Herckis, the EVP and Chief HR Officer of CS Disco, sold 3,615 shares of the company's common stock on November 18, 2024.
• The sale was executed to cover taxes and fees due upon the release and settlement of restricted stock units.
• The shares were sold at a weighted average price of $5.40, with individual transactions ranging from $5.40 to $5.43.
• Following the transaction, Ms. Herckis directly owns 103,705 shares of CS Disco common stock.

Sentiment

Score: 5

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

Management Comments

• The Reporting Person did not sell or otherwise dispose of any of the shares reported on this Form 4 for any reason other than to cover required taxes and fees.

Industry Context

This is a routine transaction for executives who receive stock-based compensation. It is common for executives to sell shares to cover tax obligations when restricted stock units vest.

Comparison to Industry Standards

• Sales of shares by executives to cover tax obligations upon vesting of restricted stock units are a common practice across the industry.
• The sale price range of $5.40 to $5.43 is within the typical range for such transactions, reflecting the current market value of the stock.
• Similar transactions are regularly reported by executives at comparable tech companies, such as those in the SaaS and legal tech sectors.

Stakeholder Impact

• The sale of shares by an executive may have a minor impact on the stock price, but it is generally considered a routine transaction and not a significant event for shareholders.

Key Dates

Keywords

CS Disco, insider trading, stock sale, restricted stock units, Form 4, executive compensation, Karen Herckis