Form 4: PROS Holdings Executive Scott William Cook Reports Stock Transactions
SEC Form 4 Filing
Scott William Cook, a Senior Vice President and Chief Accounting Officer at PROS Holdings, Inc., reported the vesting and subsequent withholding of shares to cover taxes related to restricted stock units.
Summary
- On October 14, 2024, Scott William Cook, Sr. VP and Chief Accounting Officer of PROS Holdings, Inc., had 2,315 restricted stock units (RSUs) vest.
- Following the vesting, 911 shares were withheld to cover tax obligations.
- The price of PROS common stock on October 14, 2024, was $18.59.
- After these transactions, Cook directly owns 55,574 shares of PROS common stock and 62,850 unvested RSUs.
- The reported transactions were related to the vesting of the fourth tranche of RSUs awarded on January 12, 2023.
- The final lapse date for these RSUs is January 12, 2027.
- The remaining unvested RSUs are from grants made on January 11, 2021, January 10, 2022, March 1, 2022, January 12, 2023 and January 12, 2024, vesting in installments.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions by an executive. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.
Industry Context
This filing is a routine disclosure of insider transactions, which are common for executives receiving stock-based compensation. It provides transparency into the executive's holdings and transactions in the company's stock.
Comparison to Industry Standards
- Stock-based compensation is a common practice in the technology industry to align executive incentives with shareholder value.
- Companies like Salesforce, Workday, and Oracle also utilize RSUs as part of their executive compensation packages.
- The vesting schedules and terms of these RSUs are generally in line with industry standards, promoting long-term retention and performance.
Stakeholder Impact
- The transaction has a minor impact on the overall shareholding structure of the company.
- It provides transparency to shareholders regarding executive compensation and stock ownership.
Key Dates
| Date | Description |
|---|---|
| 2021-01-11 | Date of award of 3,623 unvested RSUs vesting in 4 equal annual installments beginning 1/11/22, and a final lapse date of 1/11/25 |
| 2022-01-10 | Date of award of 6,320 unvested RSUs 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 |
| 2022-03-01 | Date of award of 3,647 unvested RSUs vesting at 25% after 1year on the anniversary date and the remainder vesting at 6.25% after the completion of each 3-month calendar period thereafter |
| 2023-01-12 | Date of award of 20,835 unvested RSUs 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 |
| 2023-01-12 | Date of award of RSUs, fourth tranche vesting on 10/14/2024, with a final lapse date of Jan 12, 2027 |
| 2024-01-12 | Date of award of 28,425 unvested RSUs 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 |
| 2024-10-14 | Date of transaction: Vesting of 2,315 RSUs and withholding of 911 shares for taxes. |
| 2024-10-15 | Date of Form 4 filing. |
| 2027-01-12 | Final lapse date of RSUs awarded on January 12, 2023. |
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