Form 4: DigitalOcean CFO Matt Steinfort Disposes of Shares for Tax Obligations

DigitalOcean's Chief Financial Officer, Matt Steinfort, disposed of 22,578 shares of common stock to cover tax withholding obligations related to vested equity awards.

Summary

• Matt Steinfort, Chief Financial Officer of DigitalOcean Holdings, Inc. (DOCN), reported a transaction on June 1, 2025.
• The transaction involved the disposition of 22,578 shares of DigitalOcean common stock.
• The shares were disposed of at a price of $28.3 per share.
• This disposition was identified with Transaction Code 'F', indicating a withholding of shares by the Issuer to satisfy the Reporting Person's tax withholding obligations.
• The tax obligations arose in connection with the non-reportable vesting and settlement of restricted stock units (RSUs) and performance-based restricted stock units (PSUs).
• Following this transaction, Matt Steinfort beneficially owns 576,031 shares of DigitalOcean common stock directly.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the transaction is a routine, non-discretionary disposition of shares for tax purposes related to equity award vesting, which is a standard practice for executives and does not indicate a change in company fundamentals or executive confidence.

Positives

• The transaction is a result of the vesting of restricted stock units and performance-based restricted stock units, indicating that the CFO has met certain performance or tenure criteria for equity compensation.
• The disposition is non-discretionary, solely for tax withholding purposes, and does not reflect a voluntary sale by the executive.

Negatives

• The transaction represents a reduction in the CFO's direct shareholding by 22,578 shares, although this is a standard procedure for tax compliance on equity vesting.

Future Outlook

This Form 4 filing does not contain any forward-looking statements or guidance regarding the company's future outlook.

Management Comments

• The transaction reported represents the withholding of shares by the Issuer to satisfy the Reporting Person's tax withholding obligations in connection with the non-reportable vesting and settlement of restricted stock units and performance-based restricted stock units.

Industry Context

This specific Form 4 filing, detailing a routine tax-related share disposition by an executive, does not provide direct insights into broader industry trends or competitive dynamics within the cloud infrastructure or technology sector. It is a standard compliance disclosure.

Stakeholder Impact

• Shareholders: Minimal direct impact as this is a routine, non-discretionary transaction for tax purposes, not a voluntary sale indicating a change in executive confidence.
• Employees: No direct impact mentioned.

Key Dates

Recommendation

Keywords

DigitalOcean, DOCN, Matt Steinfort, Chief Financial Officer, CFO, SEC Form 4, Insider Transaction, Share Disposition, Tax Withholding, Restricted Stock Units, Performance Stock Units, Equity Compensation