Form 4: Freshworks Director Zachary Nelson Reports Stock Sale and RSU Conversion
SEC Form 4
Zachary Nelson, a director at Freshworks Inc., reported the sale of 8,433 shares of Class A Common Stock and the conversion of Restricted Stock Units (RSUs) into Class A Common Stock.
Summary
- On November 4, 2024, Zachary Nelson, a director of Freshworks Inc., sold 8,433 shares of Class A Common Stock at a weighted average price of $12.19.
- The sales were executed under a pre-arranged Rule 10b5-1 trading plan adopted on February 10, 2024.
- On November 1, 2024, Nelson converted 9,370 Restricted Stock Units (RSUs) into Class A Common Stock.
- Following these transactions, Nelson directly owns 23,497 shares of Class A Common Stock and 107,387 shares of Class B Common Stock.
- Nelson also holds 98,954 derivative securities.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions. It doesn't inherently convey positive or negative sentiment about the company's prospects.
Future Outlook
The document does not contain specific forward-looking statements regarding the company's future performance. It details the execution of a pre-arranged trading plan.
Industry Context
This Form 4 filing is a routine disclosure of stock transactions by a company insider, providing transparency to investors regarding the trading activities of key personnel. It is common for executives to use 10b5-1 plans to diversify their holdings and avoid accusations of insider trading.
Stakeholder Impact
- The stock sale by a director could have a minor impact on shareholder sentiment, but the existence of a pre-arranged trading plan mitigates concerns about insider information.
Key Dates
| Date | Description |
|---|---|
| September 1, 2021 | RSU vesting start date, with 1/48th of shares vesting monthly over 48 months. |
| February 10, 2024 | Date of adoption of Rule 10b5-1 trading plan. |
| October 23, 2024 | Date of Power of Attorney execution. |
| November 1, 2024 | Conversion of Restricted Stock Units (RSUs) into Class A Common Stock. |
| November 4, 2024 | Sale of Class A Common Stock. |
| November 5, 2024 | Date of Form 4 filing. |
| August 8, 2031 | Expiration date of Restricted Stock Units. |
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