Form 4: FiscalNote Holdings CSO Transfers Shares to Revocable Trust

Gerald Yao, CSO and Director of FiscalNote Holdings, transferred shares of Class B Common Stock to a revocable trust.

Summary

• On August 6, 2024, Gerald Yao, the CSO and Director of FiscalNote Holdings, Inc., transferred 68,305 shares of Class B Common Stock to the Gerald Yao Revocable Trust, dated January 10, 2019.
• The shares were transferred from the Gerald Yao 2021 GRAT to the revocable trust with no consideration.
• The reporting person, Gerald Yao, is the trustee of the trust.
• Class B Common Stock is convertible to Class A Common Stock on a 1:1 basis and will automatically convert upon certain events as defined in the Issuer's Certificate of Incorporation.
• Following the transaction, the Gerald Yao Revocable Trust holds 1,182,298 shares of Class B Common Stock.

Sentiment

Score: 5

Explanation: The document is a neutral regulatory filing regarding a share transfer. It doesn't inherently indicate positive or negative sentiment regarding the company's performance or outlook.

Industry Context

This is a routine SEC Form 4 filing, indicating a change in beneficial ownership of securities by a company insider. It is common for executives to manage their holdings through trusts for estate planning purposes.

Related Party Transactions

• The transfer of shares to the Gerald Yao Revocable Trust is a related party transaction.

Stakeholder Impact

• The share transfer has minimal direct impact on stakeholders as it is a change in beneficial ownership for estate planning purposes and does not involve a sale or purchase of shares on the open market.

Key Dates