Form 4: Matterport Executive Jay Remley Reports Stock Transactions

Jay Remley, Chief Revenue Officer of Matterport, reports the acquisition and disposal of Class A Common Stock and Restricted Stock Units.

Summary

• On March 1, 2024, Jay Remley acquired 22,500 shares of Class A Common Stock at $0.00 and disposed of 22,500 Restricted Stock Units.
• Following these transactions on March 1, 2024, Remley directly owns 1,079,702 shares of Class A Common Stock and 1,053,233 Restricted Stock Units.
• On March 4, 2024, Remley sold 13,748 shares of Class A Common Stock at a weighted average price of $2.018, with prices ranging from $2.01 to $2.07.
• After the sale on March 4, 2024, Remley directly owns 1,065,954 shares of Class A Common Stock.
• Remley also acquired 727,273 Restricted Stock Units on March 1, 2024, bringing the total to 1,780,506 Restricted Stock Units.
• The Restricted Stock Units vest quarterly, commencing on March 1, 2023, and will be fully vested by March 1, 2027.
• An additional award of Restricted Stock Units will vest quarterly starting March 1, 2024.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing detailing stock transactions by an executive. It doesn't inherently convey positive or negative sentiment, but rather provides factual information about the transactions.

Industry Context

This Form 4 filing is a routine disclosure required by the SEC for corporate insiders, providing transparency into their trading activities. It's a standard practice for executives to manage their equity holdings, often involving sales to cover tax obligations related to vesting equity awards.

Stakeholder Impact

• The transactions may have a minor impact on shareholders due to the change in ownership by a key executive.
• Employees may be indirectly affected by the perception of executive confidence in the company, as reflected by their stock transactions.

Key Dates