Form 4: FiscalNote Director Anna Sedgley Receives Equity Compensation Grant

FiscalNote Holdings, Inc. director Anna Sedgley was granted 20,667 shares of Class A Common Stock as compensation for her service, aligning her interests with shareholders.

Summary

• Anna Sedgley, a Director of FiscalNote Holdings, Inc. (NOTE), acquired 20,667 shares of Class A Common Stock.
• The acquisition occurred on June 2, 2025, and the shares were granted at a price of $0 per share.
• These shares represent compensation for her service as a non-management director, provided in lieu of a quarterly cash retainer.
• Following this transaction, Ms. Sedgley beneficially owns a total of 612,099 shares of Class A Common Stock directly.

Sentiment

Score: 6

Explanation: The sentiment is mildly positive due to the alignment of director and shareholder interests through equity compensation, which is a sound corporate governance practice. However, it is a routine event and not indicative of significant operational or financial news.

Positives

• The grant of shares as compensation aligns the director's financial interests with those of the company's shareholders, promoting long-term value creation.
• The use of equity compensation for non-management directors is a common and accepted corporate governance practice that can incentivize commitment and performance.

Negatives

• No specific negative points are identified in this Form 4 filing, as it primarily reports a routine compensation event.

Risks

• No specific new risks are introduced or highlighted by this routine insider transaction filing.

Future Outlook

The document does not provide any forward-looking statements or guidance regarding the company's future performance, strategic direction, or financial outlook.

Management Comments

• The filing explicitly states that 'These shares of Class A Common Stock were granted to the reporting person as compensation for the reporting person's service as a non-management director of the Issuer in lieu of a quarterly cash retainer.'

Industry Context

This filing is a standard disclosure of an insider equity grant, a common practice across various industries to compensate non-executive directors and align their interests with shareholders. It does not provide broader industry trends or competitive analysis specific to FiscalNote's market.

Comparison to Industry Standards

• The practice of compensating non-management directors with equity, such as Class A Common Stock, is a widely accepted corporate governance standard across publicly traded companies, including those in the technology and information services sectors like FiscalNote. This method of compensation is consistent with typical practices observed in companies of similar size and industry, aiming to align director incentives with long-term shareholder value.

Corporate Governance

Related Party Transactions

• The transaction involves the grant of shares to a director (Anna Sedgley), which constitutes a related party transaction as part of standard compensation practices.

Stakeholder Impact

• **Shareholders:** The grant of equity to a director can be viewed positively as it aligns the director's financial incentives with the company's long-term performance and shareholder value.
• **Director (Anna Sedgley):** Receives compensation for her service in the form of company equity, increasing her direct beneficial ownership in FiscalNote Holdings, Inc.

Next Steps

• The document does not outline any specific future actions, events, or milestones beyond the reported transaction.

Key Dates

Keywords

FiscalNote Holdings, NOTE, Anna Sedgley, Form 4, Insider Transaction, Equity Compensation, Director Compensation, Class A Common Stock, Beneficial Ownership