Form 4: Ooma CEO Eric Stang Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Eric Stang, CEO and President of Ooma Inc., reports changes in his beneficial ownership of Ooma's common stock due to tax withholding and a contribution to a family trust.
Summary
- On September 8, 2024, Eric Stang, CEO and President of Ooma Inc., reported changes in his beneficial ownership of Ooma's common stock.
- 8,062 shares were disposed of to cover withholding tax liabilities upon vesting of restricted stock units at a price of $10.36 per share.
- 7,563 shares previously held directly by Mr. Stang were contributed to the Eric Stang & Pamela Stang Trust U/A 09/02/2004 Stang Family Trust.
- Following these transactions, Mr. Stang directly owns 495,625 shares of Ooma's common stock.
- The Eric Stang & Pamela Stang Trust U/A 09/02/2004 Stang Family Trust holds 1,288,876 shares, with Mr. Stang exercising voting and investment power as a trustee.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the filing simply reports routine transactions related to tax obligations and trust management.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. These filings are closely watched by investors for signals about management's confidence in the company's prospects.
Related Party Transactions
- Contribution of shares to the Eric Stang & Pamela Stang Trust U/A 09/02/2004 Stang Family Trust is a related party transaction.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders as they are related to internal tax obligations and trust management.
Key Dates
| Date | Description |
|---|---|
| 09/02/2004 | Date of the Eric Stang & Pamela Stang Trust U/A Stang Family Trust |
| 09/08/2024 | Date of the reported transactions (disposal of shares for tax withholding) |
| 09/10/2024 | Date of signature on the Form 4 filing |
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