Form 4: Grove Collaborative Holdings Executive Chairman Stuart Landesberg Reports Stock Transactions

Stuart Landesberg, Executive Chairman of Grove Collaborative Holdings, reports the vesting and subsequent tax withholding of Class A Common Stock and Restricted Stock Units.

Summary

• On May 15, 2024, Stuart Landesberg, the Executive Chairman of Grove Collaborative Holdings, reported transactions involving Class A Common Stock and Restricted Stock Units (RSUs).
• These transactions included the vesting of RSUs and the subsequent withholding of shares to cover tax obligations.
• Specifically, 31,702, 45,057, and 75,615 RSUs vested, resulting in the acquisition of corresponding shares of Class A Common Stock.
• The company retained 16,067, 22,835, and 38,322 shares, respectively, at a price of $1.66 per share to satisfy tax withholding requirements.
• Following these transactions, Landesberg directly owns 1,050,764 shares of Class A Common Stock and indirectly owns 123,558 shares through The Landesberg Living Trust.
• He also holds 378,080 Restricted Stock Units.

Sentiment

Score: 5

Explanation: This is a routine filing reflecting standard executive compensation practices; it doesn't inherently indicate positive or negative sentiment.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates the vesting of previously granted equity compensation and the standard practice of withholding shares to cover tax liabilities.

Stakeholder Impact

• The transactions have a minor dilutive effect on existing shareholders due to the issuance of new shares upon RSU vesting.
• The tax withholding ensures compliance with tax regulations.

Key Dates