Form 4: FiscalNote Director Manoj Jain Boosts Stake

FiscalNote Holdings Director and 10% owner Manoj Jain acquired 1,479 shares of Class A Common Stock as compensation, increasing his direct and indirect holdings.

Summary

• Manoj Jain, a Director and 10% Owner of FiscalNote Holdings, Inc. (NOTE), acquired 1,479 shares of Class A Common Stock.
• These shares were granted as compensation for his service as a non-management director, in lieu of a quarterly cash retainer.
• The transaction date for this acquisition was September 3, 2025.
• Following this transaction, Manoj Jain directly beneficially owns 47,857 shares of Class A Common Stock.
• He indirectly beneficially owns an additional 50,520 shares through Maso Capital Offshore Limited and 2,358,955 shares through Maso Capital Partners Limited.
• The issuer effected a 1-for-12 reverse stock split of its Class A Common Stock on August 29, 2025, which resulted in proportionate adjustments to the reported share numbers.

Sentiment

Score: 7

Explanation: The acquisition of shares by a director and 10% owner, even as compensation, generally indicates alignment of interests and potential confidence in the company's future, which is a moderately positive signal for investors.

Positives

• A director and 10% owner acquiring shares, even as compensation, can signal confidence in the company's future prospects and aligns management interests with shareholders.
• The acquisition of shares at a price of $0 indicates compensation for services, which is a standard practice for non-management directors.

Future Outlook

The filing does not contain specific forward-looking statements or guidance, as it is primarily a disclosure of an insider transaction.

Industry Context

This insider transaction is specific to FiscalNote Holdings, Inc. and does not directly relate to broader industry trends or competitor activities, beyond the general principle that insider buying can be a positive signal within any industry.

Related Party Transactions

• Manoj Jain has indirect beneficial ownership through Maso Capital Offshore Limited and Maso Capital Partners Limited, entities he beneficially owns and controls, which hold significant shares of FiscalNote Class A Common Stock.

Stakeholder Impact

• Shareholders may view the director's increased stake, even through compensation, as a positive sign of management's commitment and belief in the company's value.
• The reverse stock split impacts all shareholders by reducing the number of outstanding shares and proportionately increasing the share price, without changing the total value of their holdings.

Key Dates

Keywords

FiscalNote Holdings, NOTE, Manoj Jain, Insider Transaction, Form 4, Stock Acquisition, Director Compensation, Beneficial Ownership, Reverse Stock Split