4/A: MongoDB Director Corrects Stock Grant Details in Amended SEC Filing

Peter Thomas Killalea, a director at MongoDB, files an amended Form 4 to correct the number of Class A Common Stock shares received as part of an annual equity grant.

Summary

• Peter Thomas Killalea, a director at MongoDB, filed an amended Form 4/A with the SEC.
• The amendment corrects an error in the original Form 4 filed on June 27, 2024, regarding the number of Class A Common Stock shares received.
• The corrected filing reports that Killalea acquired 820 shares of Class A Common Stock on June 25, 2024, at a price of $0.
• These shares were granted as restricted stock units under MongoDB's non-employee director compensation policy.
• Following the transaction, Killalea beneficially owns 31,163 shares of Class A Common Stock directly.
• The restricted stock units vest on the earlier of the first anniversary of the grant date or the date of MongoDB's 2025 annual stockholders' meeting, contingent upon continuous service.

Sentiment

Score: 7

Explanation: The document is a routine correction of a regulatory filing, indicating standard corporate governance practices. The grant of restricted stock units is a positive sign of aligning director interests with shareholders.

Positives

• The amended filing ensures accurate reporting of director's stock ownership.
• The grant of restricted stock units aligns director's interests with those of shareholders.
• The vesting schedule incentivizes continued service to the company.

Future Outlook

The restricted stock units will vest on the earlier of the first anniversary of the grant date or the date of MongoDB's 2025 annual stockholders' meeting, subject to continuous service.

Industry Context

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

Comparison to Industry Standards

• Director compensation packages often include equity grants to align their interests with shareholders, similar to practices at companies like Datadog, Snowflake, and CrowdStrike.
• The vesting schedule of the restricted stock units is standard practice, comparable to those used by other tech companies to retain key personnel.

Stakeholder Impact

• Shareholders benefit from the transparency provided by the accurate reporting of director stock ownership.
• The equity grant incentivizes the director to act in the best interests of the company and its shareholders.

Key Dates