Form 4: N-able Director Michael Widmann Awarded Restricted Stock Units as Part of Compensation Program

N-able, Inc. Director Michael A. Widmann received 23,195 restricted stock units as part of the company's non-employee director compensation program, with proceeds from future sales expected to be remitted to Silver Lake.

Summary

• Michael A. Widmann, a Director of N-able, Inc. and an executive of Silver Lake Group, L.L.C., was awarded 23,195 restricted stock units (RSUs).
• The RSUs were granted on May 22, 2025, as part of N-able's non-employee director compensation program.
• These RSUs vest in full on the day immediately preceding the Issuer's next annual meeting of stockholders following the grant date, contingent on Mr. Widmann's continued service.
• The securities are held by Mr. Widmann for the benefit of Silver Lake Technology Management, L.L.C. and/or its affiliates or managed funds.
• Per Silver Lake's policies, proceeds from the sale of these securities are expected to be remitted to Silver Lake and/or its limited partners.
• Mr. Widmann disclaims beneficial ownership of these securities for Section 16 purposes.

Sentiment

Score: 6

Explanation: The sentiment is neutral to slightly positive. It's a routine compensation event, which is expected. The positive aspect is the alignment of director interests with the company's performance through equity compensation.

Positives

• The grant of restricted stock units to a director aligns management and director interests with those of shareholders, as the value of the compensation is tied to the company's stock performance.
• This transaction represents a standard component of non-employee director compensation, indicating a structured approach to governance and remuneration.

Negatives

• The issuance of new restricted stock units, upon vesting and conversion to common stock, will result in a minor dilution of existing shareholder equity, though this is typical for equity compensation programs.

Future Outlook

The restricted stock units are set to vest in full on the day immediately preceding N-able's next annual meeting of stockholders following the grant date, subject to the director's continued service.

Management Comments

• Michael A. Widmann stated that the restricted stock units were awarded as part of the Issuer's non-employee director compensation program and that the proceeds from the sale of these securities will be expected to be remitted to Silver Lake and/or its limited partners, in accordance with Silver Lake's policies.

Industry Context

The granting of restricted stock units to non-employee directors is a common practice across various industries, particularly in technology and growth-oriented companies, to attract and retain qualified board members and align their interests with long-term company performance.

Related Party Transactions

• Michael A. Widmann, a director of N-able, Inc., is also an executive of Silver Lake Group, L.L.C. The restricted stock units are held for the benefit of Silver Lake Technology Management, L.L.C. and/or its affiliates or managed funds.
• Per Silver Lake's policies, the proceeds from the sale of these securities are expected to be remitted to Silver Lake and/or its limited partners, indicating a financial transaction between the director (acting on behalf of Silver Lake) and the related entity.

Stakeholder Impact

• Shareholders: Experience minor dilution from the issuance of new shares upon vesting, but benefit from increased alignment of director interests with long-term company performance.
• Silver Lake: Benefits financially as the ultimate recipient of the proceeds from the sale of the vested restricted stock units, reinforcing its investment in N-able.

Next Steps

• The restricted stock units are expected to vest on the day immediately preceding N-able's next annual meeting of stockholders following the grant date, assuming continued service by the director.
• Upon vesting and potential sale, the proceeds are expected to be remitted to Silver Lake and/or its limited partners.

Key Dates

Keywords

N-able Inc., NABL, Form 4, Restricted Stock Units, RSU, Director Compensation, Michael A. Widmann, Silver Lake, Equity Compensation, SEC Filing