Form 4: Rapid7 CEO Corey E. Thomas Reports Stock Transactions
SEC Form 4
Rapid7 CEO Corey E. Thomas reports the withholding of shares for tax obligations and holdings through family entities.
Summary
- Corey E. Thomas, CEO of Rapid7, Inc., reported changes in beneficial ownership of the company's stock.
- On May 15, 2024, 10,221 shares were withheld to cover tax obligations related to vesting restricted stock units at a price of $39.38.
- Thomas directly owns 452,968 shares following the transaction.
- He also indirectly owns 218,748 shares through Thomas Family Holdings LLC and 30,000 shares through a trust.
- The report includes shares acquired under the Rapid7, Inc. 2015 Employee Stock Purchase Plan on March 15, 2024.
Sentiment
Score: 5
Explanation: This is a neutral report of stock transactions, with no inherent positive or negative implications for the company's performance.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It provides transparency to investors regarding the holdings and transactions of company insiders.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies, ensuring transparency regarding insider transactions.
- Similar filings are made by executives at companies like CrowdStrike and Palo Alto Networks, detailing their stock transactions and ownership positions.
- The reporting of indirect ownership through entities like family holdings and trusts is also a common practice among executives.
Stakeholder Impact
- The filing provides transparency to shareholders regarding the CEO's stock ownership and transactions.
- The tax withholding transaction has no direct impact on employees, customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| February 2, 2021 | Date of restricted stock units previously granted to the Reporting Person. |
| February 15, 2022 | Date of restricted stock units previously granted to the Reporting Person. |
| February 15, 2023 | Date of restricted stock units previously granted to the Reporting Person. |
| February 15, 2024 | Date of restricted stock units previously granted to the Reporting Person. |
| March 15, 2024 | Date of shares acquired under the Rapid7, Inc. 2015 Employee Stock Purchase Plan. |
| May 15, 2024 | Date of the reported transaction involving tax withholding of shares. |
| May 17, 2024 | Date of signature for the Form 4 filing. |
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