4/A: N-able Inc. Executive Kathleen Pai Amends Form 4 Filing, Corrects Stock Acquisition and Ownership Figures
SEC Filing
Kathleen Pai, EVP and Chief People Officer of N-able, Inc., files an amended Form 4 to correct previously reported figures regarding stock acquisitions and beneficial ownership following recent transactions.
Summary
- Kathleen Pai, the EVP and Chief People Officer of N-able, Inc., filed an amended Form 4 with the SEC.
- The amendment corrects errors in the original Form 4 filed on February 24, 2025, regarding the amount of securities acquired and beneficially owned.
- The corrected filing shows that Pai acquired 35,366 shares of common stock through performance stock units and 64,037 shares through restricted stock units on February 20, 2025.
- Following these transactions, Pai's total beneficial ownership of N-able common stock is 526,251 shares.
- Additionally, 2,870 shares were withheld to satisfy tax obligations related to the vesting of performance stock units at a price of $9.98 per share.
Sentiment
Score: 7
Explanation: The sentiment is neutral to slightly positive as it reflects standard executive compensation practices and transparent reporting, with a correction of a previous error.
Positives
- The filing provides transparency into the executive's stock ownership and recent transactions.
- The correction ensures accurate reporting of insider holdings.
Future Outlook
The performance stock units vest in three equal installments on each of February 20, 2025, February 15, 2026 and February 15, 2027, subject to continued service through each applicable date. 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 standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.
Stakeholder Impact
- Shareholders benefit from accurate reporting of insider ownership.
- Employees are impacted through the vesting of stock units.
Key Dates
| Date | Description |
|---|---|
| 02/15/2025 | Anniversary date for 25% vesting of restricted stock units. |
| 02/20/2025 | Date of stock acquisition and tax withholding. |
| 02/24/2025 | Date of original Form 4 filing (incorrect). |
| 02/28/2025 | Date of amended Form 4/A filing. |
| 02/15/2026 | Next vesting date for performance stock units. |
| 02/15/2027 | Final vesting date for performance stock units. |
| 02/15/2028 | Final vesting date for restricted stock units. |
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