Form 4: FiscalNote Officer Sells Shares for Tax

FiscalNote's Chief Accounting Officer, Paul Donnell, disposed of 202 Class A Common Stock shares at $4.25 each to cover tax obligations upon restricted stock unit vesting.

Summary

• Paul Donnell, Chief Accounting Officer of FiscalNote Holdings, Inc. (NOTE), reported a transaction involving Class A Common Stock.
• On October 17, 2025, Mr. Donnell disposed of 202 shares of Class A Common Stock.
• The shares were withheld by the Issuer at a price of $4.25 per share to satisfy tax obligations.
• This disposition was related to the vesting of 575 restricted stock units.
• Following this transaction, Mr. Donnell beneficially owns 34,355 shares of Class A Common Stock.
• His total beneficial ownership includes 799 shares acquired under the FiscalNote Holdings, Inc. 2022 Employee Stock Purchase Plan, adjusted for a 1-for-12 reverse stock split.

Sentiment

Score: 5

Explanation: The filing reports a routine, mandatory tax-related disposition of shares upon vesting of restricted stock units, which is a neutral event from an investment perspective.

Positives

• The vesting of restricted stock units indicates compensation for the officer, which can be a positive for employee retention and alignment of interests with shareholders.

Negatives

• A disposition of shares, even for tax purposes, reduces the officer's direct equity stake, though this is a common and expected event for equity compensation.

Future Outlook

NA

Industry Context

NA

Stakeholder Impact

• Shareholders: Minimal impact as this is a routine, tax-related transaction by an officer, not indicative of a change in company fundamentals or officer sentiment towards the company.
• Employees: The vesting of restricted stock units is part of employee compensation plans, which can positively impact employee morale and retention.

Key Dates

Keywords

FiscalNote, NOTE, Paul Donnell, Chief Accounting Officer, Insider Transaction, Form 4, Stock Sale, Tax Withholding, Restricted Stock Units, Equity Compensation