Form 4: MongoDB Director Charles M. Hazard Jr. Reports Acquisition of Class A Common Stock

Director Charles M. Hazard Jr. reports acquiring Class A Common Stock through restricted stock units and stock in lieu of cash for director services.

Summary

• Charles M. Hazard Jr., a director at MongoDB, Inc., filed a Form 4 detailing changes in beneficial ownership.
• On June 25, 2024, Hazard acquired 817 shares of Class A Common Stock through restricted stock units (RSUs) at $0 per share, part of the annual equity grant under the non-employee director compensation policy.
• Additionally, Hazard acquired 201 fully vested shares of Class A Common Stock at $0 per share, electing to receive stock in lieu of cash for director services.
• The number of shares was calculated based on the 30-day volume-weighted average share price prior to the issuance date.
• Following these transactions, Hazard directly owns 53,424 shares of Class A Common Stock and indirectly owns 15,995 shares through The Narragansett Bay Childrens Trust.
• The RSUs vest on the earlier of the first anniversary of the grant date or the date of the Issuer's 2025 annual stockholders' meeting, contingent upon continuous service.

Sentiment

Score: 6

Explanation: The document reflects standard insider transactions related to director compensation, which is neither overly positive nor negative. It's a routine disclosure.

Positives

• The acquisition of shares by a director can be seen as a positive signal, indicating confidence in the company's future performance.
• The use of stock in lieu of cash compensation aligns the director's interests with those of the shareholders.

Future Outlook

The restricted stock units will vest on the earlier of the first anniversary of the grant date or the date of the Issuer's 2025 annual stockholders' meeting, subject to the Reporting Person providing continuous service to the Issuer through such date.

Management Comments

• The reporting person disclaims beneficial ownership of the shares owned by the Trust except to the extent of his pecuniary interest therein and this report shall not be deemed an admission that the reporting person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates standard compensation practices for non-employee directors.

Stakeholder Impact

• The transactions have a minor positive impact on shareholders by aligning director interests with company performance.

Key Dates