Form 4: FiscalNote CFO Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
FiscalNote's CFO, Jon Slabaugh, sold 827 shares of Class A Common Stock to cover tax obligations arising from the vesting of restricted stock units.
Summary
- On November 7, 2024, Jon Slabaugh, CFO and SVP, Corp. Dev. of FiscalNote Holdings, Inc., sold 827 shares of Class A Common Stock.
- The sale was executed at a price of $0.9532 per share.
- This transaction was conducted to satisfy the reporting person's tax obligation upon the vesting of 1,714 restricted stock units.
- The sale was executed pursuant to a Rule 10b5-1 trading plan adopted on May 14, 2023.
- Following the transaction, Slabaugh directly owns 562,589 shares of Class A Common Stock.
Sentiment
Score: 6
Explanation: The sentiment is neutral as the transaction is a routine sale of shares to cover tax obligations and was pre-planned.
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 trading plans to avoid accusations of insider trading.
Stakeholder Impact
- The sale of shares by the CFO could have a minor negative impact on shareholder sentiment, although it is a common practice.
Key Dates
| Date | Description |
|---|---|
| May 14, 2023 | Date of adoption of Rule 10b5-1 trading plan |
| November 07, 2024 | Date of transaction (stock sale) |
| November 12, 2024 | Date of signature on the Form 4 filing |
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