Form 4: ON24 INC.: Director Cynthia Paul Reports Acquisition of Shares and Indirect Ownership

Director Cynthia Paul reports acquisition of shares and indirect ownership through Lynrock Lake Master Fund LP.

Summary

• Cynthia Paul, a director of ON24 INC., filed a Form 4 indicating changes in beneficial ownership.
• On June 21, 2024, Paul acquired 30,198 shares of Common Stock at $0.00, representing shares underlying restricted stock units (RSUs).
• These RSUs will vest on the earlier of the next Annual Meeting date or the first anniversary of the grant date.
• Following the transaction, Paul directly owns 109,240 shares of Common Stock.
• Paul also indirectly owns 7,329,759 shares through Lynrock Lake Master Fund LP.
• Lynrock Lake LP and Lynrock Lake Partners LLC, as the investment manager and general partner of Lynrock Fund, respectively, may be deemed to beneficially own these shares.
• Paul, as the Chief Investment Officer of Lynrock and Sole Member of Lynrock GP, may also be deemed to beneficially own these shares but disclaims beneficial ownership except to the extent of her pecuniary interest.

Sentiment

Score: 6

Explanation: The sentiment is neutral as it primarily reports a transaction. The acquisition of shares by a director is generally viewed positively, but the disclaimer of beneficial ownership tempers the enthusiasm.

Positives

• The acquisition of shares by a director can be seen as a positive sign, indicating confidence in the company's future.

Future Outlook

The vesting of RSUs is tied to future Annual Meetings or the anniversary of the grant date, indicating a continued relationship between the director and the company.

Management Comments

• The Reporting Person disclaims beneficial ownership in these shares except to the extent of her pecuniary interest therein.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Stakeholder Impact

• The transaction provides transparency to shareholders regarding the ownership stake of a key company director.

Key Dates