MTTR.Matterport, Inc/de

Form 4: Matterport's Chief Legal Officer Sells Shares to Cover Taxes and Fees

Sentiment:

SEC Form 4

📋All filings for Matterport, Inc/de
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Matthew Zinn, Chief Legal Officer of Matterport, Inc., sold shares to cover taxes and fees related to vesting restricted stock units.

Summary

  • On March 4, 2024, Matthew Zinn, the Chief Legal Officer of Matterport, Inc., sold 58,142 shares of Class A Common Stock at a weighted average price of $2.018.
  • The sales were executed to cover taxes and fees associated with the vesting and settlement of restricted stock unit awards.
  • Following the transaction, Zinn directly owns 396,121 shares of Matterport's Class A Common Stock.
  • Zinn was also granted 727,273 restricted stock units on March 1, 2024, which will vest in 1/16th increments quarterly starting March 1, 2024, contingent upon continued service.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the transaction is a routine sale of shares to cover tax obligations.

Future Outlook

The restricted stock units will vest quarterly, contingent on continued service, starting March 1, 2024.

Industry Context

This is a routine transaction for executives to cover tax obligations related to stock-based compensation. It doesn't necessarily reflect a change in the executive's long-term outlook for the company.

Stakeholder Impact

  • The sale of shares may have a minor impact on shareholders due to the increased supply of shares in the market, but it is unlikely to be significant.

Key Dates

DateDescription
03/01/2024Date of restricted stock unit grant.
03/04/2024Date of stock sale.
03/05/2024Date of signature on the Form 4.

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