Form 4: FiscalNote Director Tim Hwang Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Director Tim Hwang sold shares of FiscalNote Holdings, Inc. to cover tax obligations arising from the vesting of restricted stock units.
Summary
- On May 7, 2025, Tim Hwang, a director and 10% owner of FiscalNote Holdings, Inc., engaged in transactions involving Class A Common Stock.
- A total of 29,346 shares were withheld to cover tax obligations related to the vesting of 29,375 restricted stock units.
- These shares were withheld at prices of $1.18, $1.13 and $0.78.
- Additionally, 9,515 shares were sold at a price of $0.6374 to cover tax obligations.
- Following these transactions, Hwang indirectly owns 2,553,906 shares through the Timothy T. Hwang Revocable Trust.
Sentiment
Score: 5
Explanation: The document describes routine transactions related to tax obligations, indicating a neutral sentiment.
Industry Context
Sales of shares to cover tax obligations are a routine part of equity compensation for company directors and officers.
Stakeholder Impact
- The sale of shares could have a minor dilutive effect on existing shareholders.
Key Dates
| Date | Description |
|---|---|
| January 10, 2019 | Date of the Timothy T. Hwang Revocable Trust |
| August 11, 2023 | Date of adoption of Rule 10b5-1 trading plan |
| May 07, 2025 | Date of transactions (share withholding and sale) |
| May 09, 2025 | Date of signature on the Form 4 filing |
Keywords
FiscalNote Holdings, Tim Hwang, Form 4, Share Sale, Tax Obligations, Director, Class A Common Stock, Rule 10b5-1, Restricted Stock Units
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