Form 4: Magnite CFO David Day Reports Share Forfeiture for Tax Obligations
SEC Form 4 Filing
David Day, CFO of Magnite, Inc., reported a non-discretionary forfeiture of shares to cover tax withholding obligations related to vesting restricted stock units.
Summary
- On May 15, 2025, David Day, the Chief Financial Officer of Magnite, Inc., reported a transaction involving common stock.
- The transaction involved the non-discretionary forfeiture of 13,865 shares at a price of $15.88 per share.
- This forfeiture was mandated by Magnite to cover tax withholding obligations associated with the vesting of restricted stock units.
- Following the transaction, Day directly owns 443,528 shares of Magnite common stock.
Sentiment
Score: 5
Explanation: The document reports a routine transaction related to tax obligations, which is neither particularly positive nor negative.
Industry Context
This is a standard procedure for executives receiving stock-based compensation, where a portion of the shares are forfeited to cover tax obligations.
Stakeholder Impact
- The transaction has a minor impact on the total number of outstanding shares.
Key Dates
| Date | Description |
|---|---|
| 05/15/2025 | Date of the share forfeiture transaction. |
| 05/16/2025 | Date of signature for the report. |
Keywords
Form 4, Magnite, MGNI, David Day, CFO, Share Forfeiture, Tax Withholding, Restricted Stock Units, Beneficial Ownership
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.