Form 4: DigitalOcean CFO Matt Steinfort Disposes of Shares to Cover Tax Obligations
SEC Form 4 Filing
DigitalOcean's CFO, Matt Steinfort, disposed of 26,877 shares of common stock on September 1, 2024, to cover tax withholding obligations related to vesting restricted stock units.
Summary
- On September 1, 2024, Matt Steinfort, the Chief Financial Officer of DigitalOcean Holdings, Inc., disposed of 26,877 shares of common stock.
- The transaction was executed to satisfy tax withholding obligations associated with the vesting and settlement of restricted stock units and performance-based restricted stock units.
- The shares were disposed of at a price of $37.43 per share.
- Following the transaction, Steinfort beneficially owns 561,040 shares of DigitalOcean common stock.
Sentiment
Score: 6
Explanation: Neutral sentiment as the transaction is a routine disposal of shares for tax purposes and doesn't inherently reflect a positive or negative outlook for the company.
Industry Context
Executive share disposals are a common occurrence, often related to compensation and tax obligations. The disposal itself doesn't necessarily indicate a negative outlook for the company.
Stakeholder Impact
- The transaction has a minimal direct impact on shareholders, as it is a routine disposal of shares by an executive for tax purposes.
Key Dates
| Date | Description |
|---|---|
| 09/01/2024 | Date of the transaction where shares were disposed of to cover tax obligations. |
| 09/04/2024 | Date of signature for the Form 4 filing. |
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