Form 4: DigitalOcean's Chief Revenue Officer, Lawrence M. D'Angelo, Reports Acquisition of Restricted Stock Units
SEC Form 4 Filing
Lawrence M. D'Angelo, Chief Revenue Officer of DigitalOcean Holdings, Inc., reports the acquisition of restricted stock units (RSUs) on August 5, 2024.
Summary
- On August 5, 2024, Lawrence M. D'Angelo, the Chief Revenue Officer of DigitalOcean Holdings, Inc., acquired 135,840 restricted stock units (RSUs).
- These RSUs were granted to D'Angelo, each representing a contingent right to receive one share of DigitalOcean's common stock.
- An additional 15,093 RSUs were also acquired on the same date.
- Vesting for the 135,840 RSUs begins with one quarter vesting on June 1, 2025, followed by the remaining shares vesting in 12 equal quarterly installments starting September 1, 2025, contingent upon continuous service.
- For the 15,093 RSUs, one half will vest on September 30, 2024, and the remaining half on December 31, 2024, also subject to continuous service.
Sentiment
Score: 7
Explanation: The document reflects a standard executive compensation practice, indicating stability and alignment of interests. It's a neutral-positive signal.
Positives
- The grant of RSUs to the Chief Revenue Officer aligns his interests with those of the shareholders, incentivizing him to drive company growth and performance.
Future Outlook
The vesting schedule of the RSUs indicates a long-term commitment from the Chief Revenue Officer to the company's success.
Industry Context
Grants of restricted stock units are a common practice in the tech industry to incentivize and retain key executives.
Stakeholder Impact
- Shareholders may view the RSU grant positively as it aligns executive compensation with company performance.
Key Dates
| Date | Description |
|---|---|
| 08/05/2024 | Date of transaction: Lawrence M. D'Angelo acquired restricted stock units. |
| 08/06/2024 | Date of signature for the Form 4 filing. |
| 09/30/2024 | Vesting date for one half of the 15,093 RSUs. |
| 12/31/2024 | Vesting date for the remaining half of the 15,093 RSUs. |
| 06/01/2025 | Vesting date for one quarter of the 135,840 RSUs. |
| 09/01/2025 | Start date for the remaining shares underlying the 135,840 RSUs to vest in 12 equal quarterly installments. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.