Form 4: FiscalNote Director Receives Stock Grant in Lieu of Cash Retainer

FiscalNote director Brandon Sweeney received 10,714 shares of Class A Common Stock as compensation in lieu of a cash retainer.

Summary

• Brandon Sweeney, a director at FiscalNote Holdings, Inc., received 10,714 shares of Class A Common Stock on December 2, 2024.
• These shares were granted as compensation for his service as a non-management director, in place of a quarterly cash retainer.
• Following this transaction, Mr. Sweeney directly owns 294,029 shares of Class A Common Stock.
• He also indirectly owns 80,697 shares through the Sweeney Trust dated March 27, 2003, where he serves as trustee.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, which is generally viewed neutrally to positively by investors.

Positives

• The grant of shares aligns director compensation with company performance.
• The transaction increases the director's stake in the company.

Industry Context

This type of stock grant is a common practice for compensating non-management directors, aligning their interests with those of shareholders.

Comparison to Industry Standards

• Stock grants in lieu of cash retainers are a common practice for non-management directors across various industries.
• The number of shares granted is likely determined by the company's compensation policy and the director's role.
• Comparable companies often use a mix of cash and equity to compensate directors.

Stakeholder Impact

• The stock grant increases the director's alignment with shareholder interests.
• The transaction has a minor dilutive effect on existing shareholders.

Key Dates

Keywords

FiscalNote, Director Compensation, Stock Grant, Class A Common Stock, Beneficial Ownership, SEC Form 4, Brandon Sweeney