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

An Olo Inc. executive sold shares to cover tax withholding obligations related to vested restricted stock units.

Summary

• Robert C. Morvillo, General Counsel and Secretary of Olo Inc., sold 6,563 shares of Class A Common Stock on December 6, 2024.
• The sale was 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 $7.3322 per share.
• The transactions occurred at prices ranging from $7.305 to $7.415 per share.
• This sale was not a discretionary trade by the executive.

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 performance.

Management Comments

• The sale does not represent a discretionary trade by the Reporting Person.

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

• Similar stock sales by executives to cover tax obligations are common across the technology industry.
• Many companies use restricted stock units as part of their compensation packages, leading to similar tax-related sales.

Stakeholder Impact

• The sale has a minimal impact on shareholders as it is a routine transaction for tax purposes.

Key Dates

Keywords

Olo Inc., stock sale, executive, tax withholding, restricted stock units, Class A Common Stock