4/A: N-able Inc. Executive Frank Colletti Amends Form 4 Filing to Correctly Report Securities Transactions
SEC Form 4/A
Frank Colletti, EVP and Chief Revenue Officer of N-able, Inc., filed an amended Form 4 to correct the number of securities acquired and beneficially owned following transactions on February 20, 2025.
Summary
- Frank Colletti, EVP and Chief Revenue Officer of N-able, Inc., filed an amendment to his original Form 4 filing on February 24, 2025.
- The amendment corrects the number of securities acquired on February 20, 2025, from 40,984 shares to 81,967 shares.
- The amendment also corrects the number of securities beneficially owned following the reported transactions from 462,273 shares to 503,256 shares.
- The transactions on February 20, 2025, involved the acquisition of common stock through performance stock units and restricted stock units, as well as the withholding of shares to satisfy tax obligations.
- The performance stock units vest in three equal installments on February 20, 2025, February 15, 2026, and February 15, 2027.
- The restricted stock units vest 25% on February 15, 2025, and 6.25% per quarter over the following twelve quarters.
- Following the reported transactions, Colletti beneficially owns 503,256 shares of N-able, Inc. common stock.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing correcting a previous error, so the sentiment is neutral.
Future Outlook
The performance stock units vest in three equal installments on February 20, 2025, February 15, 2026 and February 15, 2027, subject to continued service. The restricted stock units vest 25% on the anniversary of February 15, 2025 and 6.25% per quarter over the following twelve quarters on the respective quarterly vesting dates of May 15, August 15, November 15 and February 15, subject to continued service through each applicable date.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders.
Stakeholder Impact
- The corrected information provides shareholders with a more accurate view of Frank Colletti's holdings in N-able, Inc.
Key Dates
| Date | Description |
|---|---|
| 02/15/2025 | Anniversary date for 25% vesting of restricted stock units. |
| 02/20/2025 | Date of earliest transaction and vesting date for performance stock units. |
| 02/24/2025 | Date of original Form 4 filing. |
| 02/28/2025 | Date of amended Form 4/A filing. |
| 02/15/2026 | Second vesting date for performance stock units. |
| 02/15/2027 | Third vesting date for performance stock units. |
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