4/A: Domo Inc. Executive Corrects Stock Transaction Filing After Tax Withholding Error

Daren Thayne, CTO & EVP of Product at Domo Inc., amended a previous SEC filing to correct the number of shares withheld for tax purposes after restricted stock units vested.

Summary

• Daren Thayne, a top executive at Domo Inc., filed an amended Form 4 with the SEC to correct a previous filing.
• The amendment was necessary because the original filing incorrectly reported the number of shares withheld for tax obligations when restricted stock units vested.
• The corrected filing shows that 9,879 Class B Common Stock shares were withheld for tax purposes at a price of $7.13 per share.
• Following the transaction, Mr. Thayne beneficially owns 387,205 shares of Domo Inc. stock.

Sentiment

Score: 7

Explanation: The document is a routine correction of a previous filing, indicating no major positive or negative sentiment. It reflects standard corporate governance practices.

Industry Context

This type of filing is standard for executives who have stock-based compensation and is a routine part of corporate governance and transparency.

Comparison to Industry Standards

• Form 4 filings are a common practice across all publicly traded companies in the US, including technology companies like Domo Inc.
• The correction of a filing is not unusual and demonstrates adherence to regulatory requirements.
• Other technology companies such as Salesforce, Adobe, and Workday also have executives who regularly file Form 4s for similar transactions.

Stakeholder Impact

• The correction of the filing ensures transparency for shareholders regarding executive stock transactions.
• This filing has a minor impact on stakeholders as it is a correction of a previous error.

Key Dates

Keywords

SEC Filing, Form 4, Domo Inc., Stock Transaction, Beneficial Ownership, Restricted Stock Units, Tax Withholding, Daren Thayne