Form 4: EverCommerce CEO Eric Remer Disposes of Shares to Cover Tax Obligations
SEC Form 4 Filing
EverCommerce CEO Eric Remer disposed of 3,073 shares of common stock to cover tax obligations related to vested restricted stock units.
Summary
- Eric Remer, CEO of EverCommerce Inc., disposed of 3,073 shares of common stock on January 1, 2025.
- The shares were sold at a price of $10.75 per share.
- This transaction was to cover tax withholding obligations related to the vesting of restricted stock units granted on July 1, 2021.
- Following the transaction, Mr. Remer directly owns 1,181,486 shares of EverCommerce stock.
- Mr. Remer also indirectly owns shares through various trusts and partnerships, including 1,000,000 shares through the EMJ Remer Family Trust, 35,000 shares through the Remer Family Trust, 28,999 shares through Family Trust 1, and 7,898,225 shares through Buckrail Partners, LLC.
Sentiment
Score: 5
Explanation: The document reflects a routine transaction for tax purposes, with no indication of positive or negative sentiment.
Industry Context
This is a routine transaction for executives who receive stock-based compensation. It is common for executives to sell shares to cover tax obligations when restricted stock units vest.
Comparison to Industry Standards
- Similar transactions are common among executives at publicly traded companies, particularly when dealing with stock-based compensation.
- Many companies use restricted stock units as part of their compensation packages, and the vesting of these units often triggers tax liabilities for the recipients.
- Executives often sell a portion of their shares to cover these tax obligations, which is a standard practice.
- Companies like Salesforce, Adobe, and Workday also see similar transactions from their executives.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a routine sale to cover tax obligations.
- The sale does not indicate any change in the executive's confidence in the company.
Key Dates
| Date | Description |
|---|---|
| 07/01/2021 | Date of grant of Restricted Stock Units that triggered the tax obligation. |
| 01/01/2025 | Date of the stock disposal transaction. |
| 01/03/2025 | Date of the filing of the Form 4. |
Keywords
EverCommerce, Eric Remer, stock disposal, tax obligations, restricted stock units, beneficial ownership, Form 4, insider trading
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