4/A: Rapid7 COO Corrects Form 4 Filing Regarding Tax Withholding and Share Ownership
SEC Filing (Form 4/A Amendment)
Andrew F. Burton, COO of Rapid7, files an amended Form 4 to correct the number of shares withheld for tax obligations and the resulting direct beneficial ownership.
Summary
- Andrew F. Burton, the Chief Operating Officer of Rapid7, filed an amended Form 4 with the SEC.
- The amendment corrects an error in the original filing from February 20, 2024, regarding the number of shares withheld by Rapid7 to cover Mr. Burton's tax obligations upon the vesting of restricted stock units.
- The corrected filing indicates that 11,299 shares were withheld, not the previously reported 10,338 shares.
- As a result of the correction, Mr. Burton's direct beneficial ownership following the withholding is 288,260 shares, instead of the previously reported 289,221 shares.
- The shares were withheld to satisfy tax obligations related to restricted stock units granted on January 31, 2019, January 30, 2020, February 2, 2021, February 15, 2022, February 15, 2023 and February 15, 2024.
Sentiment
Score: 7
Explanation: The document is a routine correction of a regulatory filing. It doesn't indicate any significant positive or negative developments for the company, but accuracy in reporting is viewed favorably.
Industry Context
Form 4 filings are a routine part of executive compensation and ownership transparency in publicly traded companies. Amendments are sometimes necessary to correct errors or omissions in the original filings.
Stakeholder Impact
- The correction ensures accurate information is available to shareholders regarding executive ownership.
Key Dates
| Date | Description |
|---|---|
| 2019-01-31 | Date of restricted stock units grant. |
| 2020-01-30 | Date of restricted stock units grant. |
| 2021-02-02 | Date of restricted stock units grant. |
| 2022-02-15 | Date of restricted stock units grant. |
| 2023-02-15 | Date of restricted stock units grant. |
| 2024-02-15 | Date of transaction (tax withholding). |
| 2024-02-20 | Date of original Form 4 filing (incorrect). |
| 2024-07-05 | Date of amended Form 4/A filing. |
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