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

Innovid Corp.'s Chief Operating Officer, Kenneth Markus, sold 17,063 shares of common stock to cover tax obligations related to vesting RSUs.

Summary

• Kenneth Markus, the Chief Operating Officer of Innovid Corp., sold 17,063 shares of common stock on December 3, 2024.
• 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 $3.0351 per share, with individual transactions ranging from $3.035 to $3.04 per share.
• Following the transaction, Markus directly owns 873,713 shares of Innovid Corp. common stock.

Sentiment

Score: 5

Explanation: This is a routine transaction for an executive to cover tax obligations, and it does not indicate any positive or negative sentiment about the company's performance.

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 $3.035 to $3.04 per share is within the typical range for market transactions of this type.
• The number of shares sold is relatively small compared to the total shares owned by the executive, which is a common practice to avoid significant market impact.

Stakeholder Impact

• The sale of shares by the COO is unlikely to have a significant impact on shareholders, employees, customers, suppliers, or creditors.

Key Dates

Keywords

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