Form 4: FiscalNote Holdings CEO Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
FiscalNote Holdings CEO Tim Hwang sold 31,431 shares of Class A Common Stock on April 1, 2024, to cover tax obligations related to vesting restricted stock units.
Summary
- On April 1, 2024, Tim Hwang, Chairman, CEO, and Director of FiscalNote Holdings, Inc., sold 31,431 shares of Class A Common Stock at a price of $1.1897 per share.
- The sale was executed to satisfy the reporting person's tax obligation upon the vesting of 89,832 restricted stock units.
- The transaction was conducted under a Rule 10b5-1 trading plan adopted on August 11, 2023.
- Following the transaction, Hwang directly owns 49,318 shares of Class A Common Stock and indirectly owns 2,777,568 shares through the Timothy T. Hwang Revocable Trust.
Sentiment
Score: 5
Explanation: The document is a standard SEC Form 4 filing, indicating a routine transaction. It doesn't convey strong positive or negative sentiment.
Industry Context
Sales of shares to cover tax obligations are a routine part of executive compensation and are not necessarily indicative of the company's performance or future prospects.
Stakeholder Impact
- The sale of shares by the CEO could have a minor impact on shareholder sentiment, but is unlikely to be significant given the reason for the sale and the relatively small number of shares involved.
Key Dates
| Date | Description |
|---|---|
| 2019-01-10 | Date the Timothy T. Hwang Revocable Trust was originally dated. |
| 2023-08-11 | Date of adoption of Rule 10b5-1 trading plan. |
| 2024-04-01 | Date of transaction (sale of shares). |
| 2024-04-03 | Date of signature on the SEC Form 4 filing. |
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