Form 4: Grove Collaborative Holdings Executive Jennie Perry Reports Stock Transactions
SEC Form 4
Jennie Perry, Chief Marketing Officer of Grove Collaborative Holdings, reports the acquisition and disposal of Class A Common Stock and Restricted Stock Units to cover tax obligations.
Summary
- On May 15, 2024, Jennie Perry, Chief Marketing Officer of Grove Collaborative Holdings, engaged in multiple transactions involving Class A Common Stock and Restricted Stock Units (RSUs).
- These transactions included the acquisition of shares through the vesting of RSUs and the disposal of shares to cover tax withholding obligations.
- The price per share for the disposal of shares to cover tax obligations was $1.66.
- Following these transactions, Perry directly owns 195,086 shares of Class A Common Stock.
- Perry also holds derivative securities in the form of Restricted Stock Units, with varying vesting schedules and amounts.
- The RSUs vest quarterly, with some grants having accelerated vesting upon a change in control under certain conditions.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions by an executive. It doesn't inherently convey positive or negative sentiment about the company's performance.
Future Outlook
The document does not contain specific forward-looking statements regarding the company's future performance, but it outlines the vesting schedule of the reported Restricted Stock Units.
Industry Context
This Form 4 filing is a routine disclosure required by the SEC when company insiders trade in their company's stock. It provides transparency to investors regarding the transactions of company executives.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies, ensuring transparency in insider trading activities.
- The vesting schedules of the RSUs are typical for executive compensation packages in publicly listed companies, aligning executive incentives with long-term company performance.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in ownership, but the overall effect is likely minimal as it relates to standard executive compensation practices.
- Employees may be impacted as the vesting of RSUs is part of the overall compensation package.
Key Dates
| Date | Description |
|---|---|
| 05/15/2023 | Start date for vesting of some RSUs in twelve equal installments. |
| 02/15/2024 | Standard Quarterly Vesting Date |
| 05/15/2024 | Date of transactions involving Class A Common Stock and Restricted Stock Units. |
| 05/17/2024 | Date of signature for the Form 4 filing. |
| 02/15/2025 | Date when some RSUs will be fully vested. |
| 08/15/2024 | Standard Quarterly Vesting Date |
| 11/15/2024 | Standard Quarterly Vesting Date |
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