Form 4: Eventbrite COO & CFO Charles Baker Reports Stock Transactions
SEC Form 4
Eventbrite's COO & CFO, Charles Baker, reports the vesting and tax withholding of restricted stock units (RSUs) resulting in changes to his beneficial ownership of Class A Common Stock.
Summary
- On November 1, 2024, Charles Baker, the COO & CFO of Eventbrite, Inc., reported transactions involving Class A Common Stock.
- These transactions included the vesting of 7,549 and 11,085 Restricted Stock Units (RSUs) and the subsequent withholding of shares to cover income tax obligations.
- A total of 3,681 and 5,618 shares were withheld by the issuer to satisfy tax obligations at a price of $3.35 per share.
- Following these transactions, Baker's direct ownership of Class A Common Stock is 637,487 shares, and he holds 74,062 and 62,977 Restricted Stock Units.
- The RSUs vest in equal quarterly installments, with the first tranche vesting from February 1, 2021, through February 1, 2025, and the second tranche vesting from February 1, 2022, through February 1, 2026, contingent upon continued service to the issuer.
Sentiment
Score: 5
Explanation: This is a neutral report on stock transactions related to executive compensation. It doesn't inherently indicate positive or negative sentiment.
Positives
- The vesting of RSUs indicates that the executive is meeting the service requirements of their compensation package.
Industry Context
This is a routine disclosure related to executive compensation and stock-based awards, common in publicly traded companies.
Comparison to Industry Standards
- Stock-based compensation is a common practice in the tech industry to align executive incentives with shareholder value.
- Vesting schedules of RSUs, such as the quarterly installments described, are standard in compensation packages.
- Tax withholding practices related to RSU vesting are also standard procedure.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they relate to the vesting of existing equity awards.
- Employees may be interested in the details of executive compensation.
Key Dates
| Date | Description |
|---|---|
| February 1, 2021 | Start date for vesting of first tranche of RSUs in sixteen equal quarterly installments through February 1, 2025. |
| February 1, 2022 | Start date for vesting of second tranche of RSUs in sixteen equal quarterly installments through February 1, 2026. |
| November 1, 2024 | Date of reported transactions: vesting of RSUs and tax withholding. |
| February 1, 2025 | End date for vesting of first tranche of RSUs. |
| February 1, 2026 | End date for vesting of second tranche of RSUs. |
| November 5, 2024 | Date of signature on the Form 4 filing. |
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