Form 4: DigitalOcean CFO Matt Steinfort Reports Share Transactions
SEC Form 4 Filing
DigitalOcean's CFO, Matt Steinfort, reports the withholding of shares for tax obligations and a sale of shares under a pre-arranged 10b5-1 trading plan.
Summary
- On March 1, 2025, DigitalOcean withheld 27,142 shares from CFO Matt Steinfort at a price of $42.85 to cover tax obligations related to the vesting and settlement of restricted stock units.
- On March 4, 2025, Steinfort sold 12,497 shares of common stock at $40 per share.
- Following these transactions, Steinfort directly owns 557,938 shares of DigitalOcean.
- The sale was executed under a pre-existing Rule 10b5-1 trading plan.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the transactions appear to be routine and related to tax obligations and a pre-arranged trading plan.
Industry Context
Executive stock transactions are a common occurrence in publicly traded companies. Sales under 10b5-1 plans are often pre-scheduled and don't necessarily reflect a change in the executive's outlook on the company.
Key Dates
| Date | Description |
|---|---|
| 03/01/2025 | DigitalOcean withheld 27,142 shares for tax obligations. |
| 03/04/2025 | Matt Steinfort sold 12,497 shares under a 10b5-1 trading plan. |
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