Form 4: MoneyLion CFO Richard Correia Sells Shares to Cover Tax Obligations

MoneyLion's CFO, Richard Correia, sold 13,138 shares of Class A Common Stock to cover tax liabilities related to the vesting of restricted stock units and performance share units.

Summary

• Richard Correia, the President, CFO, and Treasurer of MoneyLion Inc., sold 13,138 shares of Class A Common Stock on August 15, 2024.
• The sale was executed at a price of $45.1 per share.
• This transaction was to cover tax liabilities associated with the vesting of 24,442 restricted stock units (RSUs) and performance share units (PSUs).
• The sale was conducted under a pre-arranged plan (Rule 10b5-1(c)) adopted on July 30, 2024.
• Following the transaction, Correia still beneficially owns 219,187 shares, including RSUs and PSUs.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, indicating a routine transaction. It doesn't inherently convey positive or negative sentiment.

Industry Context

Sales of shares to cover tax obligations upon vesting of equity compensation are a common practice among corporate executives. The use of a 10b5-1 plan indicates that the sale was pre-planned and not based on any inside information.

Stakeholder Impact

• The sale of shares by a high-ranking executive could have a minor negative impact on investor sentiment, although it is likely to be minimal given the context of covering tax obligations.

Key Dates