Form 4: FiscalNote CEO Sells Shares to Cover Tax Obligations

FiscalNote Holdings CEO, Josh Resnik, sold 3,411 shares of Class A Common Stock at $1.0157 per share to cover tax obligations related to vesting restricted stock units.

Summary

• Josh Resnik, the President and CEO of FiscalNote Holdings, Inc., sold 3,411 shares of Class A Common Stock on December 31, 2024.
• The sale was executed at a price of $1.0157 per share.
• This transaction was part of a sell-to-cover arrangement to satisfy tax obligations arising from the vesting of 9,722 restricted stock units.
• The sale was conducted under a pre-arranged Rule 10b5-1 trading plan adopted on June 20, 2023.
• Following the transaction, Resnik beneficially owns 1,230,183 shares of Class A Common Stock.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction for tax purposes, not indicative of positive or negative sentiment.

Industry Context

This is a routine transaction for executives who receive stock-based compensation. The use of a 10b5-1 plan indicates the sale was pre-planned and not based on any new material non-public information.

Comparison to Industry Standards

• Executive stock sales to cover tax obligations are common across publicly traded companies.
• The use of a Rule 10b5-1 trading plan is a standard practice to avoid accusations of insider trading.
• Similar transactions are regularly reported by executives at companies like Palantir, Snowflake, and Datadog.

Stakeholder Impact

• The sale has a minimal impact on shareholders as it is a small percentage of the total shares outstanding and was pre-planned.

Key Dates

Keywords

FiscalNote, Josh Resnik, Class A Common Stock, SEC Form 4, Rule 10b5-1, Stock Sale, Tax Obligations, Restricted Stock Units, Insider Trading