Form 4: PROS Holdings Executive Scott William Cook Reports Stock Transactions
SEC Form 4 Filing
Scott William Cook, Sr. VP and Chief Accounting Officer of PROS Holdings, Inc., reports the vesting of restricted stock units and subsequent tax withholding.
Summary
- On April 10, 2024, Scott William Cook, Sr. VP, Chief Accounting Officer of PROS Holdings, Inc., reported transactions involving PROS common stock.
- Cook exercised 1,263 Restricted Stock Units (RSUs) at a price of $36.24.
- 497 shares were disposed of to cover tax obligations at a price of $36.24.
- Following these transactions, Cook directly owns 49,096 shares of PROS common stock and 73,535 derivative securities.
- The reported derivative securities include unvested RSUs from grants made between January 2021 and January 2024, vesting in installments.
Sentiment
Score: 5
Explanation: This is a neutral, regulatory filing detailing stock transactions. It doesn't inherently convey positive or negative sentiment.
Industry Context
This Form 4 filing is a routine disclosure required by the SEC for corporate insiders, providing transparency into their transactions in the company's stock. It's a standard practice for publicly traded companies.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies and their executives.
- The vesting schedules of the RSUs appear to be fairly standard, with vesting occurring over a multi-year period.
- The tax withholding is a normal part of RSU vesting.
Stakeholder Impact
- The transactions reported may have a minor impact on the overall float of PROS stock.
- The filing provides transparency to shareholders regarding insider transactions.
Key Dates
| Date | Description |
|---|---|
| 01/11/2021 | Date of initial RSU award with vesting in 4 equal annual installments beginning 1/11/22, and a final lapse date of 1/11/25 |
| 01/10/2022 | Date of initial RSU award with vesting at 25% after 1-year on the anniversary date and the remainder vesting at 6.25% on the 10th day of the 1st month of each quarter thereafter |
| 03/01/2022 | Date of initial RSU award vesting at 25% after 1-year on the anniversary date and the remainder vesting at 6.25% after the completion of each 3-month calendar period thereafter |
| 01/12/2023 | Date of initial RSU award vesting at 25% after 1-year on the anniversary date and the remainder vesting at the rate of 6.25% on the 12th day of the 1st month of each quarter thereafter |
| 01/12/2024 | Date of initial RSU award vesting at 25% after 1-year on the anniversary date and the remainder vesting at the rate of 6.25% on the 12th day of the 1st month of each quarter thereafter |
| 04/10/2024 | Date of transaction: exercise of RSUs and disposal of shares for tax obligations. |
| 04/11/2024 | Date of signature on the Form 4 filing. |
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