Form 4: N-able Inc. Director Darryl M. Lewis Reports Acquisition of Restricted Stock Units

Director Darryl M. Lewis reports acquisition of 14,229 restricted stock units in N-able, Inc. as part of non-employee director compensation.

Summary

• On May 22, 2024, Darryl M. Lewis, a director of N-able, Inc., acquired 14,229 restricted stock units (RSUs) as part of the company's non-employee director compensation program.
• These RSUs entitle Lewis to receive one share of N-able's common stock per RSU upon vesting.
• The RSUs will vest in full on the day immediately preceding the company's next annual meeting of stockholders following the grant date, contingent upon Lewis's continued service as a director through that date.
• Following this transaction, Lewis directly owns 72,295 shares of N-able common stock.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. The acquisition of RSUs is a standard part of director compensation and aligns interests with shareholders. There are no immediate negative implications.

Positives

• The acquisition of restricted stock units aligns the director's interests with those of the shareholders.
• The vesting schedule incentivizes continued service and commitment to the company.

Future Outlook

The vesting of the restricted stock units is contingent upon the director's continued service through the day immediately preceding the company's next annual meeting of stockholders.

Industry Context

The granting of restricted stock units is a common practice in corporate governance to align the interests of directors with those of the shareholders, particularly in technology companies like N-able.

Comparison to Industry Standards

• Director compensation packages often include a mix of cash and equity, with equity grants like RSUs being a standard component.
• Companies like SolarWinds, Datto (prior to its acquisition), and ConnectWise also utilize equity-based compensation for their directors.
• The size of the RSU grant is likely benchmarked against peer companies to ensure competitive compensation for board members.

Stakeholder Impact

• Shareholders: Aligns director's interests with shareholder value.
• Employees: Reinforces the company's commitment to its leadership.
• Director: Provides equity-based compensation to the director.

Next Steps

• The restricted stock units will vest on the day immediately preceding the company's next annual meeting of stockholders, subject to the director's continued service.

Key Dates