Form 4: Domo CEO James Joshua G. Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Domo's CEO, James Joshua G., sold 26,066 Class B Common Stock shares to cover tax liabilities related to vesting restricted stock units.
Summary
- Domo CEO James Joshua G. sold 26,066 shares of Class B Common Stock on December 20, 2024, at a price of $7.13 per share.
- The sale was executed to cover tax obligations arising from the vesting of restricted stock units.
- Following the transaction, James Joshua G. directly owns 1,053,507 shares of Class B Common Stock.
- He also indirectly owns 429,810 shares through Cocolalla, LLC, 2,143 shares through his spouse, 10,000 shares through Cinnamon Birch LLC, and 39,300 shares through the James Family Charitable Remainder Trust.
- Additionally, he indirectly controls 3,263,659 shares of Class B Common Stock through Cocolalla, LLC, which are convertible from Class A Common Stock.
Sentiment
Score: 5
Explanation: The document reflects a routine transaction for tax purposes, not indicative of any positive or negative sentiment regarding the company's performance.
Industry Context
This is a routine transaction for executives who receive stock-based compensation. It is common for them to sell shares to cover tax obligations when restricted stock units vest.
Comparison to Industry Standards
- Executive stock sales to cover tax obligations are a common practice across the tech industry.
- Many tech companies use restricted stock units as part of their compensation packages, leading to similar transactions by executives at companies like Salesforce, Workday, and ServiceNow.
- The amount of shares sold is relatively small compared to the total holdings of the CEO, which is typical for these types of transactions.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a routine sale for tax purposes and does not indicate a change in the CEO's confidence in the company.
Key Dates
| Date | Description |
|---|---|
| 12/20/2024 | Date of the stock sale transaction. |
| 12/23/2024 | Date the Form 4 was signed. |
Keywords
Domo, insider trading, Form 4, James Joshua G, stock sale, Class B Common Stock, tax liability, restricted stock units, Cocolalla LLC, beneficial ownership
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.