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

Josh Resnik, COO of FiscalNote Holdings, sold 3,943 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, Josh Resnik, the President and COO of FiscalNote Holdings, Inc., sold 3,943 shares of Class A Common Stock.
• The sale was executed at a price of $1.1897 per share.
• This transaction was conducted to satisfy the reporting person's tax obligations upon the vesting of 9,722 restricted stock units.
• The sale was made pursuant to a Rule 10b5-1 trading plan adopted on June 20, 2023.
• Following the transaction, Resnik still beneficially owns 460,380 shares of Class A Common Stock.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the transaction appears to be a routine sale to cover tax obligations under a pre-existing trading plan. It doesn't necessarily indicate a positive or negative outlook for the company.

Industry Context

Insider sales are a common occurrence, especially when related to tax obligations from vesting equity. The use of a 10b5-1 plan suggests the insider is selling shares in a pre-planned manner to avoid accusations of trading on inside information.

Stakeholder Impact

• The sale of shares by an executive could be perceived negatively by some shareholders, although the use of a 10b5-1 plan mitigates concerns about insider trading.

Key Dates