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

Paul Donnell, Chief Accounting Officer of FiscalNote Holdings, sold 500 shares of Class A Common Stock on April 5, 2024, to cover tax obligations related to vesting restricted stock units.

Summary

• On April 5, 2024, Paul Donnell, the Chief Accounting Officer of FiscalNote Holdings, Inc., sold 500 shares of Class A Common Stock.
• The sale was executed at a price of $1.3349 per share.
• This transaction was conducted to satisfy the reporting person's tax obligations upon the vesting of 1,251 restricted stock units.
• The sale was executed under a pre-arranged Rule 10b5-1 trading plan adopted on May 12, 2023.
• Following the transaction, Donnell directly owns 26,366 shares of FiscalNote Holdings, Inc.

Sentiment

Score: 5

Explanation: Neutral sentiment as it's a routine transaction to cover tax obligations; no indication of positive or negative implications for the company.

Industry Context

This is a routine Form 4 filing, indicating an insider transaction. It is common for executives to sell shares to cover tax obligations related to vesting equity awards. The existence of a 10b5-1 plan suggests the transaction was pre-planned and not based on current market information.

Stakeholder Impact

• The sale of shares by an officer could have a minor negative impact on shareholder sentiment, but is unlikely to be significant given the small number of shares involved and the stated reason for the sale.

Key Dates