Form 4: Matterport CEO Raymond Pittman Reports Stock Sales to Cover Taxes

Matterport's CEO, Raymond Pittman, reports the sale of company stock to cover taxes and fees related to vesting restricted stock units.

Summary

• Raymond Pittman, CEO of Matterport, Inc., filed a Form 4 detailing changes in beneficial ownership.
• On September 1, 2024, Pittman acquired 147,727 shares and 57,500 shares of Class A Common Stock through the vesting of restricted stock units.
• Also on September 1, 2024, 57,500 and 147,727 Restricted Stock Units vested.
• On September 3, 2024, Pittman sold 135,083 shares of Class A Common Stock at a weighted average price of $4.4125 per share, with prices ranging from $4.35 to $4.46.
• These sales were automatically executed to cover taxes and fees associated with the vesting of restricted stock units.
• Following these transactions, Pittman directly owns 4,083,196 shares of Class A Common Stock and 4,510,989 Restricted Stock Units.
• The restricted stock units vest in equal quarterly installments, with vesting commencing on March 1, 2023, and March 1, 2024, and continuing until March 1, 2027, and March 1, 2028, respectively.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing detailing stock transactions by a company insider. It doesn't inherently convey positive or negative sentiment.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. The sale of shares to cover taxes upon vesting of restricted stock units is a common practice.

Stakeholder Impact

• The sale of shares by the CEO could have a minor negative impact on shareholder sentiment, although it is a common practice to cover taxes.

Key Dates