Form 4: EverCommerce Inc. President Matthew David Feierstein Reports Stock Sales to Cover Taxes
SEC Form 4 Filing
Matthew David Feierstein, President of EverCommerce Inc., sold shares of common stock on March 4 and 5, 2024, to cover taxes upon the vesting of restricted stock units.
Summary
- On March 4, 2024, Matthew David Feierstein, President of EverCommerce Inc., sold 2,093 shares of common stock at a price of $9.61 per share.
- On March 5, 2024, Feierstein sold 4,742 shares of common stock at a price of $9.05 per share.
- These sales were executed to cover taxes upon the vesting of restricted stock units (RSUs) according to pre-arranged Rule 10b5-1 trading plans.
- Following these transactions, Feierstein directly owns 2,311,464 shares of EverCommerce Inc. common stock and indirectly owns 150,000 shares through a family trust.
Sentiment
Score: 5
Explanation: The document reports routine stock sales for tax purposes, which is neutral in sentiment. There is no indication of positive or negative implications for the company's performance.
Industry Context
Sales of shares to cover tax obligations upon vesting of restricted stock units are a common practice among corporate executives. These transactions are often pre-planned under Rule 10b5-1 to avoid accusations of insider trading.
Stakeholder Impact
- The stock sales may have a minor dilutive effect on existing shareholders, but the impact is likely minimal given the relatively small number of shares sold compared to the total outstanding shares.
Key Dates
| Date | Description |
|---|---|
| August 28, 2022 | Date of adoption of Rule 10b5-1 trading instruction in the award agreement for the Reporting Person. |
| March 29, 2023 | Date of adoption of Rule 10b5-1 trading instruction in the award agreement for the Reporting Person. |
| 03/04/2024 | Date of the first reported transaction: sale of 2,093 shares at $9.61. |
| 03/05/2024 | Date of the second reported transaction: sale of 4,742 shares at $9.05. |
| 03/06/2024 | Date of signature of the Form 4 filing. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.