Form 4: ON24 Chief Revenue Officer James Blackie Sells Shares to Cover Tax Obligations
SEC Form 4
James Blackie, Chief Revenue Officer of ON24, sold shares of common stock on September 10, 2024, to cover tax withholding obligations related to vesting restricted stock units.
Summary
- On September 10, 2024, James Blackie, the Chief Revenue Officer of ON24, sold 663 shares of common stock at a price of $5.8509 per share.
- He also sold 677 shares of common stock at a price of $5.8509 per share.
- These transactions were executed to cover tax withholding obligations associated with the vesting of restricted stock units.
- Following these transactions, Blackie directly owns 425,836 shares of ON24 common stock.
- The sales were conducted under a pre-arranged Rule 10b5-1 trading plan adopted on September 14, 2023.
Sentiment
Score: 5
Explanation: The document describes routine stock sales for tax purposes, which is neither particularly positive nor negative.
Industry Context
Executive stock sales are a common occurrence, often related to compensation and tax planning. 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.
Key Dates
| Date | Description |
|---|---|
| 12/21/2021 | Date of execution for the Power of Attorney. |
| 04/01/2022 | Effective date of the Power of Attorney. |
| 09/14/2023 | Date the reporting person adopted a Rule 10B5-1 trading plan. |
| 09/10/2024 | Date of the stock sale transactions. |
| 09/12/2024 | Date of signature for the Form 4 filing. |
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