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

Olo Inc.'s Chief Financial Officer, Peter J. Benevides, sold shares to cover tax obligations related to vested restricted stock units.

Summary

• Olo Inc.'s Chief Financial Officer, Peter J. Benevides, sold 16,745 shares of Class A Common Stock on December 6, 2024.
• The sale was not a discretionary trade but was required to cover tax withholding obligations related to the vesting and settlement of restricted stock units.
• The shares were sold in multiple transactions at prices ranging from $7.305 to $7.41, with a weighted average price of $7.3317.
• The total value of the shares sold was $122,777.78.

Sentiment

Score: 5

Explanation: The document describes a routine transaction related to executive compensation and tax obligations, which is neither positive nor negative for the company's overall outlook.

Industry Context

This type of transaction is common for executives who receive stock-based compensation, as they often need to sell shares to cover the associated tax liabilities.

Comparison to Industry Standards

• Executive stock sales to cover tax obligations are a standard practice across publicly traded companies.
• The sale of 16,745 shares is relatively small compared to the total outstanding shares of Olo Inc., and is unlikely to have a significant impact on the stock price.

Stakeholder Impact

• The sale of shares by the CFO is unlikely to have a significant impact on shareholders.

Key Dates

Keywords

Olo Inc., Peter J. Benevides, CFO, stock sale, tax obligations, restricted stock units, Class A Common Stock