Form 4: FiscalNote Chief Accounting Officer Reports Share Dispositions for Tax Obligations

FiscalNote Holdings, Inc.'s Chief Accounting Officer, Paul Donnell, reported the disposition of Class A Common Stock shares to cover tax obligations related to restricted stock unit vesting.

Summary

• Paul Donnell, Chief Accounting Officer of FiscalNote Holdings, Inc. (NOTE), reported two dispositions of Class A Common Stock.
• On July 7, 2025, 506 shares were disposed of at $0.7141 per share to satisfy tax obligations from the vesting of 1,251 restricted stock units.
• On July 17, 2025, an additional 9,426 shares were disposed of at $0.6501 per share for tax obligations related to the vesting of 27,561 restricted stock units.
• Following these transactions, Paul Donnell beneficially owns 406,013 shares of Class A Common Stock.

Sentiment

Score: 5

Explanation: Neutral. This is a routine Form 4 filing detailing share dispositions for tax purposes upon RSU vesting, which is a common and expected event for executives receiving equity compensation. It does not indicate discretionary selling or new strategic developments.

Positives

• The reported share dispositions are for tax withholding purposes upon the vesting of restricted stock units, which is a common and expected event for executives receiving equity compensation.
• The transactions are not discretionary sales by the insider, indicating a routine compensation-related event rather than a change in investment sentiment.

Negatives

• The disposition of shares, even for tax purposes, results in a reduction of the insider's direct beneficial ownership.
• The price per share at which the shares were disposed decreased from $0.7141 on July 7, 2025, to $0.6501 on July 17, 2025.

Risks

• No specific new risks are introduced by this routine Form 4 filing beyond the general implication of insider share reduction, which is standard for tax withholding.

Future Outlook

NA

Industry Context

This Form 4 filing is a routine disclosure of insider share transactions, specifically related to tax withholding upon RSU vesting, which is a common occurrence across all industries for executives receiving equity compensation.

Comparison to Industry Standards

• The reported transactions are standard practice for satisfying tax obligations upon the vesting of restricted stock units, aligning with common equity compensation practices in publicly traded companies.
• There are no specific comparable companies or projects mentioned in this filing to provide a detailed comparison.

Related Party Transactions

• The disposition of shares by the Chief Accounting Officer to satisfy tax obligations upon the vesting of restricted stock units is a standard transaction related to executive compensation.

Stakeholder Impact

• Shareholders: Minor dilution from the shares being withheld, but this is a standard and expected part of equity compensation plans.
• Employees: No direct impact mentioned beyond the reporting person.
• Customers/Suppliers/Creditors: No direct impact.

Key Dates

Recommendation

Keywords

FiscalNote Holdings, NOTE, Form 4, SEC filing, insider transaction, beneficial ownership, restricted stock units, RSU vesting, Paul Donnell, Chief Accounting Officer, share disposition, tax withholding