Form 4: Magnite CFO David Day Forfeits Shares to Cover Tax Obligations
SEC Form 4 Filing
David Day, CFO of Magnite, Inc., forfeited 31,113 shares of common stock to cover tax withholding obligations associated with the vesting of restricted stock units on February 15, 2025.
Summary
- On February 15, 2025, David Day, the Chief Financial Officer of Magnite, Inc., forfeited 31,113 shares of common stock.
- This forfeiture was non-discretionary and mandated by Magnite to cover tax withholding obligations related to the vesting of restricted stock units.
- Following the transaction, Day directly owns 457,393 shares of Magnite common stock.
Sentiment
Score: 5
Explanation: The document describes a routine transaction related to executive compensation and tax obligations, which is neither particularly positive nor negative.
Industry Context
This type of transaction is common for executives receiving stock-based compensation. Companies often have mechanisms in place to handle tax obligations arising from the vesting of restricted stock units.
Stakeholder Impact
- The forfeiture of shares by the CFO to cover tax obligations has a minimal direct impact on shareholders.
Key Dates
| Date | Description |
|---|---|
| 02/15/2025 | Date of the transaction: David Day forfeited shares. |
| 02/19/2025 | Date of signature on the Form 4 filing. |
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