Form 4: Intapp Executive Harrison David Benjamin Reports Share Transactions Following RSU Vesting
SEC Form 4 Filing
Intapp's President of Industries, Harrison David Benjamin, reports the acquisition and disposal of Intapp, Inc. common stock related to the vesting of restricted share units (RSUs) and performance share units, including sales to cover tax obligations.
Summary
- On February 19, 2025, Harrison David Benjamin, President of Industries at Intapp, Inc., acquired 54,965 shares of common stock related to performance share units.
- On February 20, 2025, 2,890 restricted share units (RSUs) vested.
- Also on February 20, 2025, Benjamin sold a total of 13,627 shares of common stock in multiple transactions at prices ranging from $67.6539 to $72.39 to cover tax liabilities associated with the vesting of performance share units and RSUs.
- Following these transactions, Benjamin directly owns 45,128 shares of Intapp common stock and 28,919 derivative securities.
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, but rather provides factual information.
Future Outlook
The RSUs will continue to vest in 11 equal quarterly installments after November 20, 2024, subject to continued employment.
Industry Context
This Form 4 filing is a routine disclosure of insider transactions, which are common in publicly traded companies. It provides transparency into the trading activities of company executives and their alignment with shareholder interests.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies and their executives.
- The use of 10b5-1 plans is a common method for insiders to sell shares while avoiding accusations of insider trading.
- Companies like Salesforce, Workday, and Oracle also have executives who regularly file Form 4s related to stock options and RSU vesting.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders, as they are routine and related to executive compensation.
- The sales to cover tax liabilities may slightly increase the float of the stock.
Key Dates
| Date | Description |
|---|---|
| December 10, 2024 | Company put in place a 10b5-1 plan. |
| November 20, 2024 | 8.33% of the shares vested. |
| February 19, 2025 | Acquisition of 54,965 shares of common stock related to performance share units. |
| February 20, 2025 | Vesting of 2,890 restricted share units (RSUs) and sale of 13,627 shares to cover tax liabilities. |
| February 21, 2025 | Date of signature for the Form 4 filing. |
Keywords
Form 4, Intapp, Harrison David Benjamin, Share Transactions, Restricted Share Units, Performance Share Units, Vesting, Tax Liabilities, Insider Trading
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