Form 4: Datadog COO Adam Blitzer Sells Shares to Cover Tax Obligations

Datadog's Chief Operating Officer, Adam Blitzer, sold shares of Class A Common Stock to cover tax withholding obligations and brokerage fees related to vesting restricted stock units.

Summary

• Adam Blitzer, the Chief Operating Officer of Datadog, Inc., sold shares of Class A Common Stock on March 4th and 5th, 2024.
• The sales were executed to cover tax withholding obligations and brokerage commission fees associated with the vesting of restricted stock units and performance-based restricted stock units.
• A total of 28,313 shares were sold across multiple transactions at prices ranging from $122.23 to $130.555 per share.
• The sales on March 5th were conducted under a pre-arranged 10b5-1 trading plan adopted on May 12, 2023.
• Following these transactions, Blitzer directly owns 196,082 shares of Datadog's Class A Common Stock.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the filing simply reports stock sales to cover tax obligations, which is a routine activity.

Industry Context

Sales by company executives are a normal part of corporate governance. It is common for executives to sell shares to cover tax obligations related to stock-based compensation.

Stakeholder Impact

• The stock sales could have a minor impact on shareholders due to the increased supply of shares in the market, but the impact is likely to be minimal given the relatively small volume of shares sold.

Key Dates