Form 4: Nerdy Inc. Chief Legal Officer Sells Shares to Cover Taxes After RSU Vesting

Christopher C. Swenson, Chief Legal Officer of Nerdy Inc., sold 58,220 shares of Class A Common Stock on February 18, 2025, to cover tax obligations resulting from the vesting of restricted stock units.

Summary

• On February 18, 2025, Christopher C. Swenson, the Chief Legal Officer of Nerdy Inc., sold 58,220 shares of Class A Common Stock at a price of $1.8 per share.
• The sale was executed to cover taxes due as a result of the vesting of 114,930 restricted stock units (RSUs).
• The shares were automatically sold through the Issuer's sell-to-cover program to satisfy federal and state tax withholding obligations.
• Following the transaction, Swenson beneficially owns 1,685,028 shares, including 865,906 shares of Class A Common Stock and 819,122 restricted stock units.

Sentiment

Score: 6

Explanation: The document reflects a routine transaction related to executive compensation. It's neutral in sentiment as it doesn't indicate any significant positive or negative developments for the company.

Industry Context

This is a routine transaction related to executive compensation and tax obligations, common in publicly traded companies. It doesn't necessarily reflect a change in the executive's confidence in the company.

Comparison to Industry Standards

• Sell-to-cover programs are a standard practice among publicly traded companies to facilitate the payment of taxes associated with the vesting of equity compensation.
• The number of shares sold is relatively small compared to the total holdings, which is typical for these types of transactions.
• Similar transactions are regularly reported by executives at companies like Coursera, Chegg, and 2U, which operate in the online education space.

Stakeholder Impact

• The sale of shares may have a minor, temporary impact on the stock price due to the increased supply.
• The transaction ensures the executive remains compliant with tax regulations.

Key Dates

Keywords

Nerdy Inc., Christopher C. Swenson, Chief Legal Officer, Form 4, Stock Sale, Restricted Stock Units, RSU Vesting, Tax Obligations, Beneficial Ownership, NRDY