Form 4: Innovid Corp. COO Sells Shares to Cover Tax Obligations

Innovid Corp.'s Chief Operating Officer, Kenneth Markus, sold 8,763 shares of common stock to cover tax obligations related to the vesting of restricted stock units.

Summary

• Kenneth Markus, the Chief Operating Officer of Innovid Corp., sold 8,763 shares of common stock on January 17, 2025.
• The sale was executed to cover tax withholding obligations associated with the vesting of restricted stock units (RSUs).
• The shares were sold at a weighted average price of $3.0826 per share, with individual transactions ranging from $3.075 to $3.09 per share.
• Following the transaction, Markus beneficially owns 855,751 shares of Innovid Corp. common stock.

Sentiment

Score: 5

Explanation: The document describes a routine transaction for an executive to cover tax obligations, which is neither positive nor negative for the company's overall outlook.

Industry Context

This is a routine transaction for executives who receive stock-based compensation. It is common for executives to sell shares to cover tax obligations when RSUs vest.

Comparison to Industry Standards

• Sales of shares by executives to cover tax obligations are a common practice across publicly traded companies.
• The sale price range of $3.075 to $3.09 per share is within the typical range for market transactions.
• The number of shares sold is relatively small compared to the total shares held by the executive.

Stakeholder Impact

• The sale of shares by the COO has a minimal impact on shareholders as it is a routine transaction.
• The transaction does not impact employees, customers, suppliers, or creditors.

Key Dates

Keywords

Innovid Corp, Kenneth Markus, Chief Operating Officer, stock sale, Form 4, tax obligations, restricted stock units, RSUs, insider trading