Form 4: ON24 CFO Steven Vattuone Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
ON24's Chief Financial Officer, Steven Vattuone, sold shares of common stock to cover tax withholding obligations related to vesting restricted stock units, as disclosed in a Form 4 filing.
Summary
- Steven Vattuone, the CFO of ON24, sold shares of the company's common stock on September 10th and 11th, 2024.
- The sales were executed to cover tax withholding obligations associated with the vesting of restricted stock units.
- On September 10th, Vattuone sold 680 shares at an average price of $5.8509 and 918 shares at an average price of $5.8509.
- On September 11th, Vattuone sold 7,094 shares at an average price of $5.8559.
- These transactions were conducted under a pre-arranged Rule 10b5-1 trading plan adopted on September 14, 2023.
- Following these transactions, Vattuone still beneficially owns 542,974 shares of ON24 common stock.
Sentiment
Score: 5
Explanation: The document is a routine Form 4 filing related to stock sales for tax purposes. It doesn't contain any information that would significantly impact investor sentiment positively or negatively.
Industry Context
Executive stock sales are a common occurrence, particularly to cover tax obligations related to equity compensation. The use of a 10b5-1 trading plan suggests the sales were pre-planned and not based on insider information.
Stakeholder Impact
- The stock sales could have a minor dilutive effect on existing shareholders, but the impact is likely minimal given the relatively small number of shares sold compared to the total outstanding shares.
Key Dates
| Date | Description |
|---|---|
| 12/21/2021 | Date of execution for the Power of Attorney document. |
| 09/14/2023 | Date the reporting person adopted the Rule 10b5-1 trading plan. |
| 09/10/2024 | Date of the first reported stock sale. |
| 09/11/2024 | Date of the second reported stock sale. |
| 09/12/2024 | Date of the Form 4 filing. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.