Form 4: Red Violet CFO Daniel MacLachlan Reports Stock Transactions
SEC Form 4 Filing
Daniel MacLachlan, CFO of Red Violet, Inc., reports the vesting of restricted stock units, disposition of shares for tax obligations, and a charitable donation of shares.
Summary
- On October 1, 2024, Daniel MacLachlan, CFO of Red Violet, Inc., reported the vesting of 10,833 restricted stock units (RSUs).
- He also reported the disposition of 5,417 shares to cover tax obligations related to the vesting of the RSUs at a price of $28.45 per share.
- Additionally, on September 27, 2024, MacLachlan made a charitable donation of 1,875 shares to a qualified religious and educational organization.
- Following these transactions, MacLachlan directly owns 384,751 shares of common stock and indirectly owns 466 shares held by an IRA.
Sentiment
Score: 6
Explanation: The sentiment is neutral as the document primarily reports routine transactions related to executive compensation. There are no indications of significant positive or negative developments.
Positives
- The vesting of RSUs can be seen as a positive sign, indicating that MacLachlan is meeting performance goals or tenure requirements.
Negatives
- The disposition of shares to cover tax obligations could be interpreted as a slight negative, as it reduces MacLachlan's direct holdings, although it's a common practice.
Risks
- There are no specific risks mentioned in this document.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies, ensuring transparency in insider trading activities.
- The vesting schedules of RSUs are typical, often tied to tenure or performance milestones, similar to practices at comparable companies like TransUnion or Equifax.
Stakeholder Impact
- The transactions reported may have a minor impact on shareholders due to the change in the CFO's holdings, but the overall impact is likely minimal.
Key Dates
| Date | Description |
|---|---|
| September 24, 2021 | Date of original RSU grant approval by the Company's Compensation Committee. |
| September 27, 2024 | Date of charitable donation of shares. |
| October 1, 2024 | Date of RSU vesting and disposition of shares for tax obligations. |
| October 12, 2022 | Date of original grant of 26,666 RSUs vesting in two equal installments on November 1, 2024 and November 1, 2025. |
| November 1, 2024 | Date of vesting of first installment of 26,666 RSUs granted on October 12, 2022. |
| November 1, 2025 | Date of vesting of second installment of 26,666 RSUs granted on October 12, 2022. |
| November 30, 2023 | Date of original grant of 40,000 RSUs vesting in three equal installments on December 1, 2024, December 1, 2025 and December 1, 2026. |
| December 1, 2024 | Date of vesting of first installment of 40,000 RSUs granted on November 30, 2023. |
| December 1, 2025 | Date of vesting of second installment of 40,000 RSUs granted on November 30, 2023. |
| December 1, 2026 | Date of vesting of third installment of 40,000 RSUs granted on November 30, 2023. |
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