4/A: MongoDB Director Corrects Stock Award Reporting in Amended SEC Filing

Roelof Botha, a director at MongoDB, files an amended SEC Form 4/A to correct the number of Class A Common Stock shares received from a restricted stock unit grant.

Summary

• Roelof Botha, a director of MongoDB, Inc., filed an amended Form 4/A with the SEC on June 28, 2024, to correct a previous filing from June 27, 2024.
• The amendment addresses an error in the number of Class A Common Stock shares received in connection with a restricted stock unit (RSU) grant.
• The corrected filing shows that Botha acquired 820 shares of Class A Common Stock on June 25, 2024, at a price of $0, bringing his total direct holdings to 1,535 shares.
• The RSU grant is part of MongoDB's non-employee director compensation policy, with the shares vesting 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: 7

Explanation: The document is a routine correction of an SEC filing, indicating standard corporate governance practices. The sentiment is neutral to slightly positive as it reflects transparency and compliance.

Positives

• The correction of the filing demonstrates transparency and adherence to SEC regulations.

Future Outlook

The shares underlying the restricted stock unit award shall vest in full on the earlier of (i) the first anniversary of the grant date and (ii) 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 Form 4/A filing states that the original Form 4 contained an error due to an inadvertent administrative mistake.
• The filing is being made to correctly set forth the number of Shares earned by the Reporting Person.

Industry Context

This filing is a routine disclosure related to executive compensation and stock ownership, common among publicly traded companies like MongoDB. It provides transparency to investors regarding the holdings of company insiders.

Comparison to Industry Standards

• Equity compensation for board members is a common practice across the technology industry.
• Companies like Datadog, Snowflake, and CrowdStrike also utilize stock options and restricted stock units as part of their director compensation packages.
• The vesting schedules and grant sizes are typically benchmarked against peer companies to attract and retain qualified board members.

Stakeholder Impact

• The correction of the filing ensures accurate information is available to shareholders regarding director stock ownership.
• This promotes transparency and trust in the company's governance practices.

Key Dates