Form 4: Freshworks CFO Tyler Sloat Reports Stock Transactions
SEC Form 4
Tyler Sloat, CFO of Freshworks Inc., reports the acquisition and disposal of Class A and Class B Common Stock related to restricted stock units.
Summary
- On April 13, 2024, Tyler Sloat, the CFO of Freshworks Inc., engaged in transactions involving the company's stock.
- Sloat acquired 23,754 shares of Class A Common Stock at $0 per share.
- Simultaneously, 23,754 shares were disposed of at a price of $17.96 to cover tax obligations.
- These transactions resulted in Sloat holding 920,979 shares of Class A Common Stock following the reported transactions.
- Additionally, Sloat exercised restricted stock units, converting them into 46,870 shares of Class B Common Stock, and then converting 23,754 of those shares into Class A Common Stock.
- Following these transactions, Sloat beneficially owns 569,971 shares of Class A Common Stock through conversions from Class B Common Stock.
- Sloat also holds 593,725 shares of Class A Common Stock through conversions from Class B Common Stock.
- The transactions were related to the vesting and settlement of restricted stock units granted to Sloat.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.
Industry Context
This Form 4 filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It provides transparency into the transactions of company insiders.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies, ensuring transparency in insider trading.
- The vesting schedule of the restricted stock units (1/4th after one year, then monthly over 36 months) is a common vesting structure.
- Tax withholding through share disposal is a typical method for handling tax obligations related to equity compensation.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect routine executive compensation adjustments.
- Employees holding similar equity grants may be interested in the details of the vesting schedule and tax implications.
Key Dates
| Date | Description |
|---|---|
| 04/13/2020 | Grant date of the Restricted Stock Unit award, with vesting starting one year after this date. |
| 05/14/2030 | Expiration date of the Restricted Stock Units. |
| 04/13/2024 | Date of the reported stock transactions. |
| 04/15/2024 | Date of signature for the Form 4 filing. |
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