4/A: MongoDB Director Corrects Shareholding Data in Amended SEC Filing

Charles M. Hazard Jr., a director at MongoDB, files an amended Form 4 to correct the number of Class A Common Stock shares received due to an administrative error.

Summary

• Charles M. Hazard Jr., a director of MongoDB, Inc., filed an amended Form 4 (Form 4/A) with the SEC on June 28, 2024, to correct inaccuracies in a previous filing from June 27, 2024.
• The amendment addresses an error in the number of Class A Common Stock shares reported as received by Hazard.
• The shares were related to (i) restricted stock units granted under the company's non-employee director compensation policy and (ii) shares received in lieu of cash for director services.
• The corrected filing shows that on June 25, 2024, Hazard acquired 820 shares of Class A Common Stock through restricted stock units and 202 shares in lieu of cash.
• Following these transactions, Hazard beneficially owns 53,428 shares of Class A Common Stock directly.

Sentiment

Score: 7

Explanation: The document is a routine correction of an administrative error in an SEC filing. While the error is a minor negative, the prompt correction is a positive sign. Overall, the sentiment is neutral to slightly positive.

Positives

• The correction of the filing ensures transparency and accurate reporting of insider transactions.

Negatives

• The need for an amended filing indicates an initial administrative error in reporting the share acquisitions.

Risks

• While the error was administrative, repeated inaccuracies in SEC filings could raise concerns about internal controls.

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.

Industry Context

This filing is a routine disclosure related to insider transactions, which are common in publicly traded companies like MongoDB. Investors monitor these filings for insights into management's perspective on the company's stock.

Comparison to Industry Standards

• Form 4 filings are standard practice for directors and officers of publicly traded companies in compliance with SEC regulations.
• Companies like Datadog (DDOG) and Snowflake (SNOW), which operate in similar sectors, also have frequent Form 4 filings related to their executives and directors.

Stakeholder Impact

• The correction of the filing ensures that shareholders have accurate information regarding insider ownership.

Key Dates