Form 4: FiscalNote CSO Gerald Yao Sells Shares Under 10b5-1 Trading Plan

FiscalNote Holdings CSO Gerald Yao sold 2,750 shares of Class A Common Stock at $1.94 per share on July 18, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• On July 18, 2024, Gerald Yao, the CSO and a Director of FiscalNote Holdings, Inc., sold 2,750 shares of Class A Common Stock.
• The sale was executed at a price of $1.94 per share.
• The transaction was conducted under a Rule 10b5-1 trading plan adopted on March 19, 2024.
• Following the transaction, Yao directly owns 4,000 shares of Class A Common Stock.
• Yao also indirectly owns 72,064 shares through the Gerald Yao Revocable Trust Dated January 10, 2019, for which he serves as Trustee.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the filing simply reports a pre-planned stock sale by an executive. It doesn't inherently indicate positive or negative sentiment about the company's performance.

Industry Context

Insider sales are a common occurrence, and sales under 10b5-1 plans are generally viewed as less indicative of management's view of the company's prospects, as they are pre-arranged.

Stakeholder Impact

• The stock sale could have a minor negative impact on shareholder sentiment, although the impact is likely to be minimal given the pre-planned nature of the sale.

Key Dates