Form 4: Exodus Movement CEO Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Jon Paul Richardson, CEO of Exodus Movement, Inc., sold shares of Class A Common Stock to cover tax obligations related to the vesting of restricted stock units.
Summary
- On February 4, 2025, Jon Paul Richardson, the CEO of Exodus Movement, Inc., disposed of 9,284 shares of Class A Common Stock.
- The shares were withheld by the issuer to satisfy tax withholding obligations related to the vesting of restricted stock units (RSUs).
- The transaction occurred at a price of $49.88 per share.
- Following the transaction, Richardson beneficially owns 832,118 shares of Class A Common Stock, which includes unvested RSUs.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the transaction is a routine sale of shares to cover tax obligations.
Industry Context
This type of transaction, where shares are sold to cover tax obligations related to vesting equity, is a common practice among executives and employees who receive stock-based compensation.
Stakeholder Impact
- The sale of shares by the CEO could have a minor impact on shareholder sentiment, but is unlikely to significantly affect the company's operations or financial performance.
Key Dates
| Date | Description |
|---|---|
| January 5, 2022 | Date of original grant of 16,769 RSUs that vest in equal monthly installments through January 1, 2026. |
| January 1, 2023 | Date of original grant of 299,480 RSUs that vest in equal monthly installments through January 1, 2027. |
| March 13, 2024 | Date of original grant of 223,672 RSUs that vest in equal monthly installments through January 1, 2028. |
| February 4, 2025 | Date of transaction: Sale of 9,284 shares to cover tax obligations. |
| January 1, 2026 | Last vesting date for 16,769 RSUs originally granted on January 5, 2022. |
| January 1, 2027 | Last vesting date for 299,480 RSUs originally granted on January 1, 2023. |
| January 1, 2028 | Last vesting date for 223,672 RSUs originally granted on March 13, 2024. |
Keywords
Form 4, Exodus Movement, Jon Paul Richardson, Class A Common Stock, Restricted Stock Units, Tax Withholding, Beneficial Ownership, SEC Filing
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