Form 4: Olo Inc. CFO Peter Benevides Sells Shares to Cover Tax Obligations

Olo Inc.'s Chief Financial Officer, Peter J. Benevides, sold 10,259 shares of Class A Common Stock on June 6, 2024, to cover tax withholding obligations related to the vesting and settlement of restricted stock units.

Summary

• On June 6, 2024, Peter J. Benevides, the Chief Financial Officer of Olo Inc., sold 10,259 shares of Class A Common Stock.
• The sale was executed to cover tax withholding obligations associated with the vesting and settlement of restricted stock units.
• The shares were sold at a weighted average price of $4.5173, with individual transactions ranging from $4.51 to $4.53.
• Following the transaction, Benevides directly owns 424,933 shares of Olo Inc. Class A Common Stock.

Sentiment

Score: 6

Explanation: The document describes a routine transaction (sale of shares to cover taxes). It's neutral to slightly positive as it indicates vesting of stock units, which implies the executive is meeting performance criteria.

Industry Context

Sales of shares to cover tax obligations upon vesting of restricted stock units are a common practice among corporate executives and are generally not indicative of a negative outlook on the company.

Stakeholder Impact

• The sale of shares by an executive could have a minor impact on shareholder sentiment, but is unlikely to be significant given the reason for the sale.

Key Dates