Form 4: ON24 Chief Revenue Officer Sells Shares Under 10b5-1 Plan

ON24's Chief Revenue Officer, James Blackie, sold a total of 3,121 shares of common stock on December 5, 2024, under a pre-arranged 10b5-1 trading plan.

Summary

• James Blackie, the Chief Revenue Officer of ON24, sold 3,121 shares of common stock on December 5, 2024.
• The sales were executed under a Rule 10b5-1 trading plan adopted on September 14, 2023.
• The transactions were made to cover tax withholding obligations related to the vesting of restricted stock units.
• The shares were sold at a weighted average price of $6.5643, with individual transactions ranging from $6.50 to $6.62.
• Following these transactions, Mr. Blackie beneficially owns 405,352 shares of ON24 common stock.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction under a pre-arranged plan, with no indication of positive or negative sentiment. It is a neutral event.

Industry Context

This is a routine disclosure of insider trading activity, which is common for executives of publicly traded companies. The use of a 10b5-1 plan indicates that the sales were pre-planned and not based on any material non-public information.

Comparison to Industry Standards

• The use of a 10b5-1 trading plan is a standard practice for executives at publicly traded companies to avoid accusations of insider trading.
• The sale of shares to cover tax obligations is also a common practice when restricted stock units vest.
• The volume of shares sold is relatively small compared to the total shares outstanding, suggesting it is unlikely to have a significant impact on the stock price.

Stakeholder Impact

• The stock sale is unlikely to have a significant impact on shareholders due to the relatively small volume of shares sold.

Key Dates

Keywords

ON24, insider trading, stock sale, Rule 10b5-1, James Blackie, Chief Revenue Officer, stock options, tax withholding