Form 4: GoDaddy Director Mark Garrett Receives Restricted Stock Unit Grant, Bolstering Equity Stake

GoDaddy Inc. Director Mark Garrett was granted 1,397 Restricted Stock Units (RSUs) of Class A Common Stock, vesting prior to the next annual stockholders' meeting, as disclosed in a recent SEC Form 4 filing.

Summary

• GoDaddy Inc. Director Mark Garrett acquired 1,397 shares of Class A Common Stock through a Restricted Stock Unit (RSU) grant on June 4, 2025.
• The RSUs were granted at a price of $0, indicating they are part of an equity compensation plan.
• Following this transaction, Mark Garrett beneficially owns a total of 22,364 shares of GoDaddy Class A Common Stock directly.
• The RSUs are set to vest fully on the day immediately prior to GoDaddy's next annual meeting of stockholders after the grant's effective date, contingent on Mr. Garrett's continued service as a provider for the Issuer.
• An accompanying Power of Attorney, dated March 31, 2025, authorizes specific individuals (Fabiana Dixon, Marc Padwe, Jessica Craig) to manage Mr. Garrett's SEC filings, including obtaining EDGAR credentials and signing forms like Forms ID, 3, 4, 5, and 144.

Sentiment

Score: 7

Explanation: The filing indicates a routine equity grant to a director, which is a positive for the individual and generally neutral to slightly positive for the company as it aligns interests. No negative news or significant financial shifts are reported.

Positives

• The grant of 1,397 Restricted Stock Units (RSUs) at no cost represents a direct increase in Mark Garrett's equity stake in GoDaddy Inc., aligning his interests with shareholders.
• The RSU grant is a standard component of director compensation, indicating continued commitment and retention of key board members.

Negatives

• No direct negative financial implications are present in this Form 4 filing, as it details an equity grant.

Risks

• The vesting of the 1,397 Restricted Stock Units is contingent upon Mark Garrett's continued service as a 'Service Provider' for GoDaddy Inc., meaning the shares could be forfeited if his service ceases before the vesting date.

Future Outlook

The 1,397 Restricted Stock Units granted to Director Mark Garrett are scheduled to vest fully on the day immediately preceding GoDaddy's next annual meeting of stockholders after the grant date, provided he continues to serve as a service provider for the company.

Industry Context

This Form 4 filing reflects a routine equity compensation event for a director at a publicly traded technology company like GoDaddy, which is common practice across the industry to align executive and director incentives with shareholder value creation. Such grants are a standard part of compensation packages in the internet services and domain registration sector.

Comparison to Industry Standards

• The grant of Restricted Stock Units (RSUs) to a director is a standard practice for public companies, including those in the technology and internet services sector.
• Companies like Squarespace, Wix.com, and Endurance International Group (now part of Clearlake Capital Group) typically utilize similar equity-based compensation structures for their board members to foster long-term alignment with company performance and shareholder interests.
• The specific number of units granted would typically be benchmarked against peer group compensation data, though this filing does not provide such comparative details.

Corporate Governance

Stakeholder Impact

• Shareholders: The RSU grant aligns the director's financial interests with long-term shareholder value creation, as the value of the RSUs is tied to the company's stock performance.
• Employees: No direct impact on general employees is indicated by this director-specific equity grant.

Next Steps

• The 1,397 Restricted Stock Units (RSUs) are expected to vest fully on the day immediately prior to GoDaddy's next annual meeting of stockholders after the grant date.
• Mark Garrett is expected to continue his service as a director for the RSUs to vest.

Key Dates

Recommendation

Keywords

GoDaddy Inc., GDDY, SEC Form 4, Restricted Stock Units, RSU, Equity Compensation, Director Compensation, Insider Trading, Stock Grant, Corporate Governance, Mark Garrett