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

A FiscalNote Holdings executive sold 447 shares of Class A Common Stock at $0.81 per share to cover tax obligations related to vesting restricted stock units.

Summary

• Todd Aman, a Senior Vice President, General Counsel & Secretary at FiscalNote Holdings, sold 447 shares of Class A Common Stock.
• The sale occurred on November 15, 2024, at a price of $0.81 per share.
• This transaction was executed to cover tax obligations arising from the vesting of 1,500 restricted stock units.
• The sale was conducted under a pre-arranged Rule 10b5-1 trading plan adopted on May 12, 2023.
• Following the transaction, Mr. Aman directly owns 168,411 shares of Class A Common Stock.

Sentiment

Score: 5

Explanation: The document describes a routine transaction for tax purposes, with no indication of positive or negative sentiment.

Industry Context

This is a routine transaction for executives to manage their tax obligations related to equity compensation. It is common for executives to use 10b5-1 plans to avoid accusations of insider trading.

Comparison to Industry Standards

• The use of Rule 10b5-1 trading plans is a common practice among executives at publicly traded companies to manage their stock sales and avoid insider trading concerns.
• The sale of shares to cover tax obligations is a standard practice when restricted stock units vest.
• Similar transactions are regularly reported by executives at other companies such as Palantir, Snowflake and Datadog.

Stakeholder Impact

• The sale of shares by an executive may have a minor impact on the stock price, but it is unlikely to be significant given the small volume and pre-planned nature of the transaction.

Key Dates

Keywords

FiscalNote Holdings, insider trading, Form 4, stock sale, executive, Rule 10b5-1, tax obligations, restricted stock units