Form 4: Nerdy Inc. CFO Jason H. Pello Sells Shares to Cover Taxes After RSU Vesting

Nerdy Inc.'s CFO, Jason H. Pello, sold 31,586 shares of Class A Common Stock on June 17, 2024, at a price of $1.85 per share to cover tax obligations resulting from the vesting of restricted stock units.

Summary

• On June 17, 2024, Jason H. Pello, the Chief Financial Officer of Nerdy Inc., sold 31,586 shares of Class A Common Stock.
• The sale was executed on the open market at a price of $1.85 per share.
• This transaction was conducted to cover taxes due as a result of the vesting of 67,641 restricted stock units (RSUs).
• The shares were automatically sold pursuant to Nerdy Inc.'s sell-to-cover program to satisfy federal and state tax withholding obligations.
• Following the reported transaction, Pello beneficially owns 2,407,103 shares, including 478,904 shares of Class A Common Stock and 1,928,199 restricted stock units.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing related to stock transactions by a company insider. It doesn't inherently convey positive or negative sentiment.

Industry Context

Form 4 filings are standard practice for corporate insiders to report transactions in their company's stock, providing transparency to the market.

Stakeholder Impact

• The sale of shares by the CFO could have a minor impact on shareholders due to the increased supply of shares in the market, but the impact is likely to be minimal given the relatively small number of shares sold compared to the total outstanding shares.

Key Dates