Form 4: Matterport CEO Raymond Pittman Acquires 466,952 Shares Through Vesting of Restricted Stock Units

Matterport's CEO, Raymond Pittman, acquired 466,952 shares of Class A Common Stock through the vesting of restricted stock units.

Summary

• Raymond Pittman, CEO of Matterport, Inc., acquired 466,952 shares of Class A Common Stock on January 15, 2025.
• This acquisition was a result of the vesting of restricted stock units (RSUs).
• The RSUs were granted previously and commenced vesting on July 15, 2021, with the underlying shares vesting in equal quarterly installments until fully vested on July 15, 2025.
• Following this transaction, Mr. Pittman directly owns 4,643,193 shares of Class A Common Stock and 3,371,859 derivative securities (RSUs).

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to executive compensation. It is positive in that it shows the CEO is meeting vesting requirements, but it is not a major event that would significantly impact the company's outlook.

Positives

• The vesting of RSUs indicates that the CEO is meeting performance milestones.
• The increase in share ownership aligns the CEO's interests with those of shareholders.

Future Outlook

The remaining restricted stock units will continue to vest in equal quarterly installments until July 15, 2025.

Industry Context

This is a standard transaction for executives who receive stock-based compensation. It is common for executives to receive restricted stock units that vest over time.

Comparison to Industry Standards

• The vesting schedule of the restricted stock units, with quarterly vesting over four years, is a common practice in the technology industry.
• Many companies, such as Adobe, Salesforce, and Autodesk, use similar vesting schedules for their executive stock grants.
• The number of shares acquired is typical for a CEO's equity compensation package, but the specific value depends on the company's performance and stock price.

Stakeholder Impact

• The transaction increases the CEO's stake in the company, aligning his interests with those of shareholders.
• The vesting of RSUs is a standard part of executive compensation and is not expected to have a negative impact on other stakeholders.

Key Dates

Keywords

Matterport, Raymond Pittman, CEO, restricted stock units, RSU, Class A Common Stock, share acquisition, vesting, insider trading