Form 4: Magnite COO Katie Evans Forfeits Shares to Cover Tax Obligations

Magnite's Chief Operating Officer, Katie Evans, forfeited 7,483 shares of common stock to cover tax withholding obligations related to the vesting of restricted stock units.

Summary

• Katie Evans, the Chief Operating Officer of Magnite, Inc., forfeited 7,483 shares of common stock on November 15, 2024.
• The shares were forfeited to cover tax withholding obligations associated with the vesting of restricted stock units.
• The transaction was non-discretionary and mandated by Magnite.
• Following the transaction, Ms. Evans directly owns 381,170 shares of Magnite common stock.

Sentiment

Score: 5

Explanation: This is a routine transaction related to executive compensation and does not indicate any positive or negative sentiment about the company's performance.

Industry Context

This is a standard transaction for executives who receive stock-based compensation, where a portion of shares are often forfeited to cover tax liabilities.

Comparison to Industry Standards

• Forfeiture of shares to cover tax obligations is a common practice among publicly traded companies when executives vest restricted stock units.
• This type of transaction is similar to those seen at other tech companies such as The Trade Desk and PubMatic, where executives regularly adjust their holdings to manage tax liabilities.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a standard procedure for executive compensation.

Key Dates

Keywords

Magnite, Katie Evans, share forfeiture, tax withholding, restricted stock units, insider transaction, Form 4