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 between March 3rd and March 4th, 2025, to cover tax obligations related to vesting restricted stock units and brokerage commission fees.

Summary

• Adam Blitzer, the Chief Operating Officer of Datadog, Inc., sold shares of Class A Common Stock on March 3rd and 4th, 2025.
• The sales were executed to cover tax withholding obligations and brokerage commission fees associated with the vesting of restricted stock units.
• A total of 25,279 shares were sold on March 3rd at a price of $115.8629 per share.
• On March 4th, multiple sales occurred at varying weighted-average prices, ranging from $110.9869 to $115.969 per share, totaling 25,132 shares.
• The sales were conducted under a pre-arranged 10b5-1 trading plan established on August 14, 2024.
• Following these transactions, Blitzer directly owns 163,250 shares of Datadog's Class A Common Stock.

Sentiment

Score: 6

Explanation: The sentiment is neutral. The filing simply reports stock sales for tax purposes under a pre-existing plan, which is a routine activity.

Positives

• The sales were conducted under a pre-arranged 10b5-1 trading plan, indicating they were planned in advance and not based on immediate market conditions.

Industry Context

Executive stock sales are a common occurrence in publicly traded companies, often related to compensation and tax planning. The use of a 10b5-1 plan is a standard practice to avoid accusations of insider trading.

Comparison to Industry Standards

• Executive stock sales are a common practice across the tech industry, with executives at companies like Snowflake, CrowdStrike, and MongoDB regularly selling shares.
• The use of 10b5-1 plans is a standard practice to ensure compliance with insider trading regulations, similar to what is seen at companies like Zoom and Okta.
• The size of the sales is relatively small compared to the overall market capitalization of Datadog, which is typical for routine tax-related transactions.

Stakeholder Impact

• The stock sales are unlikely to have a significant impact on shareholders, as they are relatively small and conducted under a pre-arranged plan.
• Employees may be indirectly affected by the stock price, but the impact is expected to be minimal due to the nature of the transactions.

Key Dates