Form 4: FiscalNote CEO Tim Hwang Sells 100 Shares at $1.00 Each Under 10b5-1 Plan

FiscalNote CEO Tim Hwang sold 100 shares of Class A Common Stock at $1.00 per share on November 25, 2024, under a pre-arranged trading plan.

Summary

• Tim Hwang, the Chairman, CEO, and a Director of FiscalNote Holdings, Inc., sold 100 shares of Class A Common Stock on November 25, 2024.
• The sale was executed at a price of $1.00 per share.
• This transaction was conducted under a Rule 10b5-1 trading plan adopted on March 20, 2024.
• Following the transaction, Mr. Hwang directly owns 49,318 shares and indirectly owns 2,425,512 shares through a revocable trust.

Sentiment

Score: 5

Explanation: The document is a routine SEC filing for an insider transaction, which is neither positive nor negative in itself. The sale was pre-planned and small relative to the total holdings.

Industry Context

This is a routine filing for insider transactions and is common for executives who have pre-arranged trading plans.

Comparison to Industry Standards

• Rule 10b5-1 trading plans are a common practice among public company executives to avoid accusations of insider trading.
• The sale of 100 shares is a very small transaction compared to the total holdings of the CEO, which is not unusual for these types of plans.
• Other companies such as Microsoft, Apple, and Google have executives who use similar trading plans.

Stakeholder Impact

• The impact on shareholders is likely minimal due to the small size of the transaction and the pre-planned nature of the sale.

Key Dates

Keywords

FiscalNote, Tim Hwang, insider trading, Form 4, Rule 10b5-1, stock sale, executive transaction