Form 4: Magnite CFO David Day Sells Shares to Cover Tax Obligations

Magnite's Chief Financial Officer, David Day, sold 9,128 shares of common stock to cover tax obligations related to vesting restricted stock units.

Summary

• David Day, the Chief Financial Officer of Magnite, Inc., sold 9,128 shares of common stock on November 15, 2024.
• The sale was executed at a price of $15.85 per share.
• This transaction was a non-discretionary forfeiture of shares to cover tax withholding obligations associated with the vesting of restricted stock units.
• Following the transaction, Mr. Day directly owns 412,503 shares of Magnite common stock.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction for tax purposes, with no indication of positive or negative sentiment.

Industry Context

This is a routine transaction for executives who receive stock-based compensation. It is common for executives to sell shares to cover tax obligations when restricted stock units vest.

Comparison to Industry Standards

• Similar transactions are common among executives at publicly traded companies, particularly when dealing with vesting of restricted stock units.
• The sale of shares to cover tax obligations is a standard practice and does not indicate any unusual activity compared to other companies.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine sale to cover tax obligations.

Key Dates

Keywords

Magnite, MGNI, David Day, CFO, stock sale, tax obligations, restricted stock units, insider trading, Form 4