Form 4: Rapid7 CEO Corey E. Thomas Reports Stock Transaction Following Vesting of Restricted Stock Units
SEC Form 4 Filing
Rapid7 CEO Corey E. Thomas disposed of 10,221 shares to cover tax obligations following the vesting of restricted stock units, while maintaining indirect ownership through family holdings and a trust.
Summary
- Rapid7 CEO Corey E. Thomas reported a transaction involving the disposal of 10,221 shares of common stock on November 15, 2024.
- The shares were disposed of to cover tax obligations related to the vesting of restricted stock units granted on February 2, 2021, February 15, 2022, February 15, 2023 and February 15, 2024.
- The transaction price was $39.98 per share.
- Following the transaction, Thomas directly owns 431,469 shares.
- He also indirectly owns 218,748 shares through Thomas Family Holdings LLC and 30,000 shares through the Corey E. Thomas Irrevocable Trust of 2016.
- Thomas disclaims beneficial ownership of the shares held by the LLC and the trust, except for his pecuniary interest in the LLC.
Sentiment
Score: 5
Explanation: The document reflects a routine transaction related to stock vesting and tax obligations, with no indication of positive or negative sentiment.
Industry Context
This is a routine filing related to insider transactions and is common for executives who receive stock-based compensation. It does not indicate any specific trend or issue within the cybersecurity industry.
Comparison to Industry Standards
- Similar transactions are common among executives at publicly traded companies, especially those who receive stock-based compensation.
- The sale of shares to cover tax obligations is a standard practice and does not indicate any unusual activity compared to other tech companies.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a routine sale of shares to cover tax obligations.
Key Dates
| Date | Description |
|---|---|
| 02/02/2021 | Date of one of the restricted stock unit grants that vested. |
| 02/15/2022 | Date of one of the restricted stock unit grants that vested. |
| 02/15/2023 | Date of one of the restricted stock unit grants that vested. |
| 02/15/2024 | Date of one of the restricted stock unit grants that vested. |
| 11/15/2024 | Date of the stock transaction. |
| 11/19/2024 | Date the Form 4 was signed. |
Keywords
Rapid7, Corey E. Thomas, stock transaction, restricted stock units, beneficial ownership, Form 4, insider trading
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