MTTR.Matterport, Inc/de

Form 4: Matterport CFO James Daniel Fay Reports Stock Sales and RSU Vesting

Sentiment:

SEC Form 4

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James Daniel Fay, CFO of Matterport, Inc., reports the vesting of restricted stock units and subsequent sale of shares to cover taxes and fees.

Summary

  • On September 1, 2024, James Daniel Fay, the CFO of Matterport, Inc., had 45,455 and 25,000 shares of Class A Common Stock acquired through the vesting of restricted stock units.
  • On September 3, 2024, Fay sold 25,000 shares of Class A Common Stock at a weighted average price of $4.4348, with prices ranging from $4.42 to $4.46.
  • Additionally, on September 3, 2024, Fay sold 44,943 shares of Class A Common Stock at a weighted average price of $4.4125, with prices ranging from $4.35 to $4.46.
  • These sales were executed to cover taxes and fees associated with the vesting of restricted stock units.
  • Following these transactions, Fay directly owns 1,618,120 shares of Class A Common Stock.
  • Fay also directly owns 1,756,623 Restricted Stock Units.

Sentiment

Score: 5

Explanation: This is a neutral disclosure of stock transactions by an executive. It doesn't inherently indicate positive or negative sentiment about the company's performance.

Industry Context

This Form 4 filing is a routine disclosure related to insider trading activity, specifically the vesting of restricted stock units and subsequent sale of shares by the CFO of Matterport. Such filings are common for publicly traded companies and provide transparency into the transactions of company insiders.

Comparison to Industry Standards

  • Form 4 filings are standard practice for publicly traded companies, ensuring transparency in insider trading activities.
  • The reported transactions are typical for executives receiving stock-based compensation and selling shares to cover tax obligations.
  • Comparable companies like Zillow, Redfin, and Opendoor also have executives who regularly file Form 4s related to stock options and RSU activity.

Stakeholder Impact

  • The stock sales by the CFO could have a minor, short-term impact on the stock price, but are unlikely to significantly affect long-term shareholder value.
  • Employees holding Matterport stock or options may be interested in these transactions as they provide insight into executive behavior.

Key Dates

DateDescription
03/01/2023Restricted stock units commenced vesting, with underlying shares vesting in equal quarterly installments until March 1, 2027.
03/01/2024Restricted stock units commenced vesting, with underlying shares vesting in equal quarterly installments until March 1, 2028.
09/01/2024Acquisition of 45,455 and 25,000 shares of Class A Common Stock through RSU vesting.
09/03/2024Sale of 25,000 shares of Class A Common Stock at a weighted average price of $4.4348 and sale of 44,943 shares of Class A Common Stock at a weighted average price of $4.4125.
03/01/2027Restricted stock units commenced vesting on March 1, 2023 will be fully vested.
03/01/2028Restricted stock units commenced vesting on March 1, 2024 will be fully vested.

Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.