Form 4: EverCommerce CEO Eric Remer Sells Shares to Cover Taxes After RSU Vesting

Eric Remer, CEO of EverCommerce Inc., sold 3,992 shares of common stock on July 2, 2024, to cover taxes upon the vesting of restricted stock units.

Summary

• On July 2, 2024, Eric Remer, the CEO of EverCommerce Inc., sold 3,992 shares of common stock at a price of $11.07 per share.
• The sale was executed to cover taxes upon the vesting of restricted stock units (RSUs).
• The transaction was made pursuant to a pre-arranged Rule 10b5-1 trading plan adopted on August 18, 2021.
• Following the transaction, Remer directly owns 1,254,286 shares of EverCommerce Inc.
• Remer also indirectly owns shares through various trusts and entities, including 1,000,000 shares held by the EMJ Remer Family Trust, 35,000 shares by the Remer Family Trust, 28,999 shares by Family Trust 1, and 8,148,663 shares by Buckrail Partners, LLC.

Sentiment

Score: 5

Explanation: The document is a routine SEC filing related to a stock sale for tax purposes, which is a neutral event.

Industry Context

Sales of shares to cover tax obligations upon vesting of restricted stock units are a common practice among executives of publicly traded companies.

Comparison to Industry Standards

• Executive compensation packages often include restricted stock units (RSUs) that vest over time.
• Upon vesting, these RSUs are treated as income, and executives are required to pay taxes on the value of the shares.
• To cover these tax obligations, executives often sell a portion of the vested shares.
• The use of Rule 10b5-1 trading plans is a common practice to avoid accusations of insider trading, as these plans are established in advance and specify the timing and amount of trades.

Key Dates