Form 4: EverCommerce CEO Eric Remer Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
EverCommerce CEO Eric Remer sold 13,523 shares of common stock to cover tax obligations related to vesting restricted stock units.
Summary
- Eric Remer, CEO of EverCommerce Inc., sold 13,523 shares of common stock on December 3, 2024.
- The sale was executed at a price of $12.05 per share.
- This transaction was to cover tax withholding obligations arising from the vesting of restricted stock units granted on March 3, 2023.
- Following the transaction, Mr. Remer directly owns 1,184,559 shares of EverCommerce common stock.
- He 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 7,945,232 shares through Buckrail Partners, LLC.
Sentiment
Score: 7
Explanation: The document reflects a routine transaction for tax purposes, which is neither positive nor negative for the company's overall performance. The sentiment is neutral to slightly positive as it shows the CEO is taking advantage of his compensation package.
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
- Executive stock sales to cover tax obligations are a common practice across publicly traded companies.
- The number of shares sold is relatively small compared to the total holdings of the CEO, which is typical for these types of transactions.
- Similar transactions can be seen at companies like Salesforce, Adobe, and Workday, where executives regularly sell shares for tax purposes.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a routine sale for tax purposes.
- The sale does not indicate any change in the CEO's confidence in the company.
Key Dates
| Date | Description |
|---|---|
| 03/03/2023 | Date of grant of Restricted Stock Units that triggered the tax obligation. |
| 12/03/2024 | Date of the stock sale transaction. |
| 12/05/2024 | Date the Form 4 was signed. |
Keywords
EverCommerce, Eric Remer, stock sale, tax obligations, restricted stock units, beneficial ownership, Form 4, executive compensation
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