Form 4: Magnite Inc. Executive David Buonasera Reports Changes in Beneficial Ownership

David Buonasera, Chief Technology Officer of Magnite Inc., reports a transaction involving the forfeiture of common stock to cover tax withholding obligations.

Summary

• On September 1, 2024, David Buonasera, the Chief Technology Officer of Magnite Inc. (MGNI), reported a change in beneficial ownership of the company's common stock.
• The transaction involved the non-discretionary forfeiture of 5,287 shares of common stock at a price of $13.79 per share.
• This forfeiture was mandated by Magnite to cover tax withholding obligations associated with the vesting of restricted stock units.
• Following the transaction, Buonasera directly owns 252,815 shares of Magnite Inc. common stock.

Sentiment

Score: 5

Explanation: This is a neutral disclosure of a routine transaction related to executive compensation and tax obligations. It doesn't inherently indicate positive or negative sentiment.

Industry Context

This Form 4 filing is a routine disclosure related to executive compensation and tax obligations, common in publicly traded companies. It provides transparency into the stock ownership of company insiders.

Stakeholder Impact

• The transaction has a minimal direct impact on shareholders, as it involves a small number of shares forfeited to cover tax obligations.

Key Dates