Form 4: Freshworks Director Barry L. Padgett Reports Stock Transactions
SEC Form 4 Filing
Director Barry L. Padgett reports transactions involving Freshworks Inc. stock, including the conversion of Restricted Stock Units into Class B Common Stock and subsequent conversion to Class A Common Stock.
Summary
- Barry L. Padgett, a director at Freshworks Inc., filed a Form 4 detailing changes in beneficial ownership.
- On October 28, 2024, Padgett converted 1,570 Restricted Stock Units (RSUs) into Class B Common Stock.
- These shares were then converted into Class A Common Stock.
- Following these transactions, Padgett directly owns 15,620 shares of Class B Common Stock and 78,129 shares of Class A Common Stock.
- The RSUs vest monthly over 48 months following August 28, 2021, contingent on continued service and a qualifying event like an IPO or sale within 10 years of the grant date.
Sentiment
Score: 5
Explanation: This is a routine filing; sentiment is neutral as it simply reports transactions.
Industry Context
Form 4 filings are standard practice for company insiders to report transactions in their company's stock, providing transparency to investors.
Stakeholder Impact
- The filing provides transparency to shareholders regarding insider transactions.
Key Dates
| Date | Description |
|---|---|
| 2021-08-28 | Start date for RSU vesting, with 1/48th of the shares vesting monthly over 48 months. |
| 2024-10-28 | Date of the reported stock transactions: conversion of RSUs to Class B Common Stock and subsequent conversion to Class A Common Stock. |
| 2024-10-30 | Date of signature on the Form 4 filing. |
| 2031-08-04 | Expiration date for the RSU award, 10 years following the grant date. |
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