Form 4: FiscalNote Director Gerald Yao Reports Tax-Related Stock Withholding
Insider Ownership Change
FiscalNote Holdings, Inc. Director Gerald Yao reported the withholding of 13,927 Class A Common Stock shares to cover tax obligations related to RSU vesting.
Summary
- Gerald Yao, a Director of FiscalNote Holdings, Inc., reported a transaction involving the company's Class A Common Stock.
- On July 17, 2025, 13,927 shares of Class A Common Stock were disposed of at a price of $0.6501 per share.
- This disposition was due to shares being withheld to satisfy tax obligations upon the vesting of 42,814 restricted stock units.
- Following this transaction, Gerald Yao directly owns 4,000 shares of Class A Common Stock and indirectly owns 462,017 shares through the Gerald Yao Revocable Trust Dated January 10, 2019, for which he is the Trustee.
Sentiment
Score: 5
Explanation: The transaction is a routine tax withholding upon RSU vesting, which is a neutral event and does not indicate positive or negative operational performance or strategic shifts for the company.
Future Outlook
The document does not provide any forward-looking statements or guidance.
Industry Context
This Form 4 filing details a routine insider transaction related to equity compensation and tax obligations, which is common across all industries for publicly traded companies. It does not provide specific insights into broader industry trends for the legal tech or government affairs sector in which FiscalNote operates.
Related Party Transactions
- Gerald Yao's indirect ownership of 462,017 shares is held through the Gerald Yao Revocable Trust Dated January 10, 2019, for which he is the Trustee, indicating a related party holding.
Stakeholder Impact
- Shareholders: The transaction represents a minor, routine reduction in a director's direct shareholding due to tax obligations, with overall beneficial ownership remaining substantial. It does not indicate a change in confidence or strategic direction.
- Employees: The vesting of restricted stock units is part of employee compensation plans, which can positively impact employee retention and motivation, though this specific filing only details the tax withholding aspect for a director.
Key Dates
| Date | Description |
|---|---|
| 07/17/2025 | Date of transaction (shares withheld for tax obligation upon RSU vesting) |
| 07/21/2025 | Date of SEC Form 4 filing |
Keywords
FiscalNote Holdings, NOTE, SEC Form 4, Insider Transaction, Stock Ownership, Restricted Stock Units, Tax Withholding, Corporate Governance, Director
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