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

Hope Cochran, a director at MongoDB, files an amended SEC Form 4 to correct the number of Class A Common Stock shares received from restricted stock units.

Summary

• Hope Cochran, a director of MongoDB, Inc., filed an amended Form 4 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 restricted stock units granted under the company's non-employee director compensation policy.
• The corrected filing shows that Cochran acquired 820 shares of Class A Common Stock on June 25, 2024, at a price of $0 per share, bringing her total direct holdings to 13,831 shares.
• These 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 to the Issuer.

Sentiment

Score: 7

Explanation: The document is a routine correction of a stock transaction filing. It doesn't indicate any fundamental issues with the company, but the initial error suggests a minor lapse in administrative oversight.

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 director compensation and stock ownership, common in publicly traded companies like MongoDB. It reflects standard practices for equity grants to non-employee directors.

Comparison to Industry Standards

• Equity compensation for non-employee directors is a common practice across the technology industry.
• Companies like Snowflake, Datadog, and CrowdStrike also grant restricted stock units to their directors as part of their compensation packages.
• The vesting schedules and terms are generally similar, with vesting contingent on continued service.

Stakeholder Impact

• The correction ensures accurate information is available to shareholders regarding director stock ownership.
• The filing has minimal impact on employees, customers, suppliers, or creditors.

Key Dates