Form 4: Ibotta Chief Legal Officer Reports Stock Transaction for Tax Obligations

Ibotta's Chief Legal Officer, David T. Shapiro, had shares withheld by the company to cover income tax obligations related to vesting restricted stock units.

Summary

• David T. Shapiro, the Chief Legal Officer of Ibotta, Inc., had 616 shares of Class A Common Stock withheld by the company on December 1, 2024.
• This transaction was not a sale by Mr. Shapiro but rather a withholding by Ibotta to satisfy income tax obligations related to the vesting of restricted stock units (RSUs).
• The price per share for the withholding was $73.14.
• Following this transaction, Mr. Shapiro beneficially owns 34,084 shares of Ibotta's Class A Common Stock.
• Each RSU represents a contingent right to receive one share of Class A Common Stock, subject to vesting conditions.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to executive compensation and tax obligations, which is neutral to slightly positive as it indicates the vesting of stock awards.

Industry Context

This type of transaction is common for executives who receive stock-based compensation, as companies often withhold shares to cover tax obligations upon vesting.

Comparison to Industry Standards

• The practice of withholding shares to cover tax obligations is standard across publicly traded companies.
• Many companies use restricted stock units (RSUs) as part of their compensation packages, and the tax implications are typically handled through similar withholding mechanisms.

Stakeholder Impact

• The transaction has a minor impact on shareholders as it involves a small number of shares being withheld for tax purposes.
• The transaction is part of the standard compensation process for executives.

Key Dates

Keywords

Ibotta, stock transaction, restricted stock units, RSU, tax withholding, Class A Common Stock, David T. Shapiro, Chief Legal Officer, SEC Form 4