Form 4: PagerDuty Director Rathi Murthy Reports Acquisition and Disposal of Common Stock

Director Rathi Murthy reports acquiring 8,817 restricted stock units and disposing of 32,192 common stock shares.

Summary

• On June 13, 2024, Rathi Murthy, a director of PagerDuty, Inc., reported transactions involving the company's common stock.
• Murthy acquired 8,817 restricted stock units (RSUs) under the Issuer's Non-Employee Director compensation policy.
• Each RSU represents a contingent right to receive one share of PagerDuty's common stock and has no expiration date.
• The shares underlying the RSU award will fully vest on the earlier of the first anniversary of the grant date or immediately prior to the next Annual Meeting of stockholders, contingent upon Murthy's continuous service as a director.
• Murthy also disposed of 32,192 shares of common stock.
• Following these transactions, Murthy's beneficial ownership includes a portion of restricted stock units.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing, so the sentiment is neutral. It simply reports transactions.

Positives

• The acquisition of restricted stock units aligns the director's interests with those of the shareholders, incentivizing continued service and performance.

Future Outlook

The vesting of the restricted stock units is contingent upon the director's continuous service to the Issuer, indicating an expectation of continued involvement.

Industry Context

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

Stakeholder Impact

• The reported transactions provide transparency to shareholders regarding the director's stake in the company.
• The vesting of RSUs incentivizes the director to act in the best interests of the company and its shareholders.

Key Dates