Form 4: FiscalNote Holdings President and COO Josh Resnik Reports Acquisition of Stock and Stock Options

Josh Resnik, President and COO of FiscalNote Holdings, reports the acquisition of 310,000 shares of Class A Common Stock and options to purchase 230,000 shares.

Summary

• On July 17, 2024, Josh Resnik, the President and COO of FiscalNote Holdings, acquired 310,000 shares of Class A Common Stock.
• These shares were acquired as restricted stock units (RSUs) which vest over time.
• One-third of the RSUs will vest on the first anniversary of the vesting commencement date, July 17, 2024.
• An additional one-twelfth of the RSUs will vest quarterly thereafter.
• Resnik also acquired options to purchase 230,000 shares of Class A Common Stock at an exercise price of $1.97.
• One-fourth of these options will vest on July 17, 2025, with an additional one-sixteenth vesting quarterly thereafter.
• Following these transactions, Resnik directly owns 755,312 shares of Class A Common Stock and options for 230,000 shares.
• The options expire on July 16, 2034.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. The acquisition of shares and options by a key executive suggests confidence in the company's future. However, it's a routine filing and doesn't necessarily indicate a major shift in the company's prospects.

Positives

• The acquisition of stock and stock options by a key executive like the President and COO can be seen as a positive sign, indicating confidence in the company's future performance.

Future Outlook

The vesting schedules for both the RSUs and stock options suggest a long-term commitment by the executive to the company's success.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates changes in the beneficial ownership of FiscalNote Holdings' securities by a key executive.

Comparison to Industry Standards

• Executive compensation packages often include stock options and restricted stock units to align management's interests with those of shareholders.
• The vesting schedules described in the filing are typical for such equity grants, encouraging long-term performance and retention.
• Comparing the size of the equity grants to those of executives at similar companies (e.g., Palantir, Thomson Reuters) would provide further context on the competitiveness of FiscalNote's compensation practices.

Stakeholder Impact

• The increased ownership stake of a key executive could positively influence investor confidence.
• Employees may view this as a positive sign of leadership's commitment to the company's long-term success.

Key Dates