Form 4: Evolv Technologies Executive Michael Ellenbogen Reports Stock Transactions
SEC Form 4 Filing
Michael Ellenbogen, Founder & Chief Innovation Officer of Evolv Technologies, reports the vesting and sale of Class A Common Stock and Restricted Stock Units.
Summary
- Michael Ellenbogen, Founder & Chief Innovation Officer of Evolv Technologies, filed a Form 4 detailing changes in beneficial ownership.
- On March 1, 2025, Ellenbogen vested 47,765, 66,767, and 57,392 shares of Class A Common Stock through the vesting of Restricted Stock Units (RSUs).
- Also on March 3, 2025, Ellenbogen sold 56,263 shares of Class A Common Stock at a weighted average price of $3.30 to cover withholding taxes related to the RSU vesting.
- Ellenbogen was also granted 151,515 and 113,636 Restricted Stock Units (RSUs) on March 3, 2025.
- Following these transactions, Ellenbogen directly owns 2,083,961 shares of Class A Common Stock and indirectly owns 151,135 shares through the Family Horizon Trust and 2,259,987 shares through the E Ventures Trust.
- Ellenbogen directly owns 151,515 and 113,636 Restricted Stock Units (RSUs).
Sentiment
Score: 5
Explanation: The sentiment is neutral as the filing primarily reports routine stock transactions related to RSU vesting and tax obligations. There is no indication of positive or negative sentiment towards the company's prospects.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. These filings are closely watched by investors to gauge management's sentiment and potential future performance.
Stakeholder Impact
- The sale of shares by a company insider could be perceived negatively by some shareholders, although the explanation provided (covering withholding taxes) mitigates this concern.
- The vesting of RSUs incentivizes the reporting person to continue to perform well for the company.
Key Dates
| Date | Description |
|---|---|
| 03/01/2023 | Commencement of vesting for some Restricted Stock Units in three equal annual installments. |
| 03/01/2024 | Commencement of vesting for some Restricted Stock Units in three equal annual installments. |
| 03/01/2025 | Vesting of 47,765, 66,767, and 57,392 shares of Class A Common Stock through RSU vesting. |
| 03/03/2025 | Sale of 56,263 shares of Class A Common Stock at $3.30 and grant of 151,515 and 113,636 Restricted Stock Units (RSUs). |
| 03/04/2025 | Date of Form 4 filing. |
Keywords
Form 4, Beneficial Ownership, Evolv Technologies, EVLV, Michael Ellenbogen, Restricted Stock Units, Class A Common Stock, Stock Sale, Vesting
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.