Form 4: Freshworks Director Barry L. Padgett Reports Stock Transactions

Director Barry L. Padgett of Freshworks Inc. reports the acquisition and disposal of Class A Common Stock and transactions involving Restricted Stock Units.

Summary

• On March 1, 2024, Barry L. Padgett, a director at Freshworks Inc., acquired 4,690 shares of Class A Common Stock at $0 and disposed of 4,690 shares at a weighted average price of $20.22.
• These sales were executed under a pre-arranged Rule 10b5-1 trading plan adopted on September 14, 2023.
• Padgett also engaged in transactions involving Restricted Stock Units (RSUs) on February 28, 2024, converting RSUs into Class B Common Stock and subsequently into Class A Common Stock.
• Following these transactions, Padgett beneficially owns 17,387 shares of Class A Common Stock, 75,004 shares of Class B Common Stock, and 28,120 Restricted Stock Units.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing stock transactions by a company director. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.

Industry Context

This Form 4 filing is a routine disclosure of stock transactions by a company insider, as required by the SEC. It provides transparency to investors regarding the buying and selling activities of company directors and officers.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies and their insiders.
• The Rule 10b5-1 trading plan is a common tool used by insiders to sell shares while avoiding accusations of insider trading.
• The vesting schedules for the Restricted Stock Units are typical for employee equity compensation.

Stakeholder Impact

• The transactions may have a minor impact on shareholders due to the change in ownership of shares.
• The vesting of Restricted Stock Units impacts the director's compensation and ownership stake in the company.

Key Dates