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

David Helmreich, Chief Commercial Officer of Innovid Corp., sold shares to cover tax withholding obligations related to the vesting of restricted stock units (RSUs).

Summary

• On April 9, 2024, David Helmreich, the Chief Commercial Officer of Innovid Corp., sold 9,187 shares of common stock.
• The shares were sold at a weighted average price of $2.4158 per share, with individual sales ranging from $2.40 to $2.416137.
• The sale was executed to cover tax withholding obligations associated with the vesting of RSUs.
• Following the transaction, Helmreich directly owns 695,380 shares of Innovid Corp.
• The sale was not a discretionary trade but rather a 'sell to cover' transaction as permitted by the Issuer's equity incentive plans.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction (sell to cover taxes) and doesn't inherently indicate positive or negative sentiment regarding the company's prospects.

Industry Context

Form 4 filings are standard practice and provide transparency into the trading activities of company insiders, allowing investors to track executive sentiment and potential alignment with company performance.

Stakeholder Impact

• The sale of shares by an executive could be perceived neutrally or slightly negatively by shareholders, depending on the context and the amount of shares sold, but in this case it is for tax obligations.

Key Dates

Keywords

Form 4, Innovid Corp, CTV, David Helmreich, Chief Commercial Officer, Stock Sale, RSU Vesting, Tax Withholding, Beneficial Ownership