Form 4: ON24 Executive James Blackie Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Chief Revenue Officer of ON24, James Blackie, sold 5,601 shares of common stock on March 1, 2024, to cover tax withholding obligations related to vesting restricted stock units.
Summary
- James Blackie, the Chief Revenue Officer of ON24, sold 5,601 shares of ON24 common stock on March 1, 2024.
- The sale was executed to cover tax withholding obligations associated with the vesting of restricted stock units.
- The shares were sold at a weighted average price of $6.8819, with individual transactions ranging from $6.80 to $6.96.
- Following the transaction, Blackie directly owns 280,719 shares of ON24 common stock.
- The sale was conducted under a pre-arranged Rule 10b5-1 trading plan adopted on September 14, 2023.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing related to an executive's stock sale for tax purposes. It doesn't convey any particularly positive or negative sentiment.
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 executive's intention to sell shares was pre-planned.
Stakeholder Impact
- The stock sale may have a minor dilutive effect on existing shareholders.
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 the Rule 10b5-1 trading plan. |
| 03/01/2024 | Date of the stock sale transaction. |
| 03/05/2024 | Date of the Form 4 filing. |
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