Form 4: Leafly Holdings General Counsel Nicole Sanchez Reports Changes in Beneficial Ownership
SEC Form 4
Nicole Sanchez, General Counsel of Leafly Holdings, reports the withholding of shares to cover tax obligations related to vesting restricted stock units (RSUs) and an acquisition of shares through the employee stock purchase plan.
Summary
- On October 20, 2024, Nicole Sanchez, General Counsel of Leafly Holdings, had shares withheld by the issuer to cover withholding taxes related to vesting RSUs.
- 269 shares were withheld at a price of $1.97 related to RSUs granted on July 25, 2023.
- 1,331 shares were withheld at a price of $1.97 related to RSUs granted on February 28, 2024.
- Sanchez also acquired 500 shares through the Leafly Holdings, Inc. 2021 Employee Stock Purchase Plan.
- Following these transactions, Sanchez beneficially owns 10,768 shares of common stock and 4,505 unvested RSUs.
Sentiment
Score: 5
Explanation: This is a neutral filing related to standard executive compensation practices. It doesn't contain information that would significantly impact investor sentiment positively or negatively.
Positives
- The reporting person acquired 500 shares through the Employee Stock Purchase Plan, indicating confidence in the company's future.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It doesn't necessarily reflect a broader trend in the cannabis industry but rather internal company practices.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies like Leafly, similar to filings made by executives at companies such as Canopy Growth Corporation or Tilray Brands, Inc.
- The vesting schedules and tax withholding practices are typical components of executive compensation packages across various industries.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders, as they primarily concern internal compensation practices.
Key Dates
| Date | Description |
|---|---|
| July 25, 2023 | Date of grant for certain restricted stock units (RSUs). |
| January 20, 2024 | One-half of the RSUs granted on July 25, 2023 vested. |
| February 28, 2024 | Date of grant for certain restricted stock units (RSUs). |
| April 20, 2024 | Date of vesting for 1/4 of RSUs granted on February 28, 2024 and July 25, 2023. |
| July 20, 2024 | Date of vesting for 1/4 of RSUs granted on February 28, 2024 and July 25, 2023. |
| October 20, 2024 | Date of transaction: shares withheld for taxes and vesting of RSUs; also date of vesting for 1/4 of RSUs granted on February 28, 2024 and July 25, 2023. |
| October 21, 2024 | Closing stock price used for net settlement of RSUs. |
| October 22, 2024 | Date of signature for the Form 4 filing. |
| January 20, 2025 | Date of vesting for 1/4 of RSUs granted on February 28, 2024 and July 25, 2023. |
Keywords
Leafly Holdings, Nicole Sanchez, beneficial ownership, Form 4, RSUs, stock purchase plan, withholding taxes, LFLY
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