Form 4: Forge Global Holdings CEO Kelly Rodriques Forfeits RSUs and Sells Shares for Tax Obligations
SEC Form 4 Filing
Kelly Rodriques, CEO of Forge Global Holdings, forfeited restricted stock units (RSUs) and sold shares to cover tax obligations.
Summary
- On January 31, 2024, Kelly Rodriques, CEO of Forge Global Holdings, forfeited 137,037 restricted stock units (RSUs) due to the non-achievement of certain performance conditions.
- On July 10, 2024, Rodriques had 43,372 shares withheld by Forge Global Holdings to satisfy tax obligations related to the net settlement of RSUs.
- Rodriques also indirectly owns 69,772 shares through Pensco Trust Co. LLC Custodian FBO Kelly Rodriques Roth IRA, 1,596,734 shares through Operative Capital SPV I, LLC, and 689,045 shares through Operative Capital LP.
- Rodriques disclaims beneficial ownership of the shares held by Operative Capital LP and Operative Capital SPV I, LLC except to the extent of his pecuniary interest.
Sentiment
Score: 5
Explanation: The document describes routine transactions (RSU forfeiture and tax withholding) and indirect ownership, with no clear positive or negative implications for the company's overall prospects.
Negatives
- Kelly Rodriques forfeited 137,037 RSUs due to the non-achievement of certain performance conditions.
Industry Context
This Form 4 filing is a routine disclosure related to changes in beneficial ownership by a company insider. It is common for executives to forfeit RSUs if performance targets are not met and to have shares withheld for tax obligations when RSUs vest.
Key Dates
| Date | Description |
|---|---|
| 01/31/2024 | Forfeiture of 137,037 restricted stock units (RSUs) due to the non-achievement of certain performance conditions. |
| 04/24/2023 | Reporting Person was granted restricted stock units ('RSUs') with performance-based vesting conditions. |
| 07/10/2024 | 43,372 shares withheld by the Issuer to satisfy tax withholding and remittance obligations in connection with the net settlement of RSUs. |
| 07/12/2024 | Date of signature for the Form 4 filing. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.