Form 4: ON24 CFO Steven Vattuone Sells Shares to Cover Tax Obligations

ON24's CFO, Steven Vattuone, sold shares of the company's common stock on May 20 and 21, 2024, to cover tax withholding obligations related to the vesting of restricted stock units.

Summary

• Steven Vattuone, the CFO of ON24, sold shares of the company's common stock on May 20 and May 21, 2024.
• The sales were executed to cover tax withholding obligations associated with the vesting of restricted stock units.
• On May 20, 2024, 3,089 shares were sold at a weighted average price of $6.349, with individual transactions ranging from $6.29 to $6.43.
• On May 21, 2024, 5,124 shares were sold at a weighted average price of $6.3233, with individual transactions ranging from $6.25 to $6.39.
• Following these transactions, Vattuone directly owns 599,726 shares of ON24 common stock.
• The sales were conducted under a Rule 10b5-1 trading plan adopted on September 14, 2023.

Sentiment

Score: 5

Explanation: The document is a routine Form 4 filing, indicating stock sales for tax purposes. It doesn't inherently convey positive or negative sentiment.

Industry Context

Executive stock sales are a common occurrence, often related to personal financial planning or tax obligations. 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 impact on shareholders due to the increased supply of shares in the market, but the effect is likely minimal given the relatively small volume of shares sold.

Key Dates