4/A: N-able Executive Corrects Stock Ownership in Amended SEC Filing

Kathleen Pai, EVP and Chief People Officer of N-able, Inc., files an amended Form 4 to correct previously reported stock acquisition and ownership figures following the spin-off from SolarWinds.

Summary

• Kathleen Pai, EVP and Chief People Officer of N-able, Inc., filed an amended Form 4 with the SEC on August 9, 2024, to correct errors in a previous filing from July 28, 2021.
• The amendment addresses inaccuracies in the number of shares acquired and beneficially owned following the spin-off of N-able from SolarWinds.
• The corrected filing shows that Pai acquired 156,636 shares of common stock and beneficially owns 230,030 shares.
• The original filing incorrectly reported the acquisition of 156,631 shares and beneficial ownership of 313,267 shares.
• The shares were obtained as restricted stock units (RSUs) from SolarWinds, which were converted into N-able RSUs at a ratio of 1.3162 following the spin-off on July 19, 2021.
• The RSUs vest on February 15, 2022, February 15, 2023 and February 15, 2024 for 82,923 RSUs and February 15, 2022 and February 15, 2023 for 73,713 RSUs, subject to continued service.

Sentiment

Score: 7

Explanation: The document is a routine correction of a previous filing, indicating a neutral sentiment. The correction itself doesn't suggest any positive or negative implications for the company's performance or outlook.

Negatives

• The original Form 4 filing contained incorrect information regarding the number of shares acquired and beneficially owned.

Industry Context

Form 4 filings are standard practice for company insiders to report changes in their ownership of company stock, ensuring transparency and compliance with SEC regulations.

Stakeholder Impact

• The correction of the filing ensures accurate information is available to shareholders and the public.

Key Dates