Form 4: FiscalNote Holdings COO Sells Shares to Cover Tax Obligations

FiscalNote Holdings' President and COO, Josh Resnik, sold 3,540 shares of Class A Common Stock to cover tax obligations related to vesting restricted stock units.

Summary

• Josh Resnik, President and COO of FiscalNote Holdings, sold 3,540 shares of Class A Common Stock on December 2, 2024.
• The sale was executed at a price of $0.9604 per share.
• This transaction was to cover tax obligations arising from the vesting of 9,722 restricted stock units.
• The sale was conducted under a pre-arranged Rule 10b5-1 trading plan adopted on June 20, 2023.
• Following the transaction, Resnik directly owns 733,594 shares of Class A Common Stock.

Sentiment

Score: 5

Explanation: The document describes a routine transaction for an executive to cover tax obligations. It is neither positive nor negative for the company's outlook.

Industry Context

This is a routine transaction for executives who receive stock-based compensation. It is common for executives to sell shares to cover tax obligations when restricted stock units vest.

Comparison to Industry Standards

• Sales of shares by executives to cover tax obligations are a common practice across publicly traded companies.
• The use of a Rule 10b5-1 trading plan is a standard method for executives to avoid accusations of insider trading when selling shares.

Stakeholder Impact

• The sale of shares by an executive may have a minor impact on the stock price, but it is generally not considered a significant event.

Key Dates

Keywords

FiscalNote Holdings, Josh Resnik, Class A Common Stock, Rule 10b5-1, insider trading, stock sale, tax obligations, restricted stock units