Form 4: FiscalNote Director Gerald Yao Sells Shares for Tax Obligation

FiscalNote Director Gerald Yao disposed of 305 Class A Common Stock shares to cover tax obligations related to restricted stock unit vesting.

Summary

• Gerald Yao, a Director of FiscalNote Holdings, Inc., reported a transaction involving Class A Common Stock.
• On October 17, 2025, 305 shares of Class A Common Stock were disposed of at a price of $4.25 per share.
• The disposition was a tax withholding event to satisfy tax obligations upon the vesting of 893 restricted stock units.
• Following this transaction, Gerald Yao beneficially owns 38,122 shares indirectly through the Gerald Yao Revocable Trust and 333 shares directly.

Sentiment

Score: 5

Explanation: The transaction is a routine tax withholding event upon the vesting of restricted stock units, indicating neither positive nor negative discretionary action by the insider.

Future Outlook

This filing does not contain any forward-looking statements or guidance regarding the company's future outlook.

Industry Context

This insider transaction is a routine event for executive compensation and does not provide broader insights into industry trends or competitive positioning.

Stakeholder Impact

• Minimal impact on shareholders as this is a routine, non-discretionary transaction for tax purposes.

Key Dates

Recommendation

The reported transaction is a non-discretionary sale of shares to cover tax obligations upon the vesting of restricted stock units. This is a routine event for executive compensation and does not reflect a change in the insider's investment conviction or the company's fundamentals, thus warranting a 'hold' recommendation based solely on this filing.

Keywords

FiscalNote, NOTE, Gerald Yao, insider transaction, Form 4, stock sale, tax withholding, director, beneficial ownership