Form 4: Red Violet Director Lisa Stanton Receives Stock Grant Following Audit Committee Appointment
SEC Form 4 Filing
Lisa Stanton, a director at Red Violet, Inc., received 3,335 restricted stock units (RSUs) after being appointed to the company's Audit Committee.
Summary
- On April 23, 2024, Lisa Stanton, a director of Red Violet, Inc., was granted 3,335 restricted stock units (RSUs) following her appointment to the company's Audit Committee.
- These RSUs will convert into common stock on a one-for-one basis.
- The RSUs vest in installments: 669 shares on December 1, 2024, and 1,333 shares on each of December 1, 2025, and December 1, 2026, subject to accelerated vesting under certain conditions.
- Following the transaction, Stanton beneficially owns 18,235 shares of common stock, including previously granted RSUs.
Sentiment
Score: 7
Explanation: The sentiment is neutral to slightly positive. The RSU grant is a standard practice and indicates confidence in the company's future, but it's not a major event.
Positives
- The grant of RSUs to a director aligns her interests with those of the shareholders.
- The vesting schedule encourages long-term commitment from the director.
Industry Context
Grants of restricted stock units are a common form of compensation for directors, aligning their interests with shareholders and incentivizing long-term value creation.
Management Changes
| Role | Previous Person | New Person | Effective Date | Reason |
|---|---|---|---|---|
| Audit Committee Member | N/A | Lisa Stanton | April 23, 2024 | Appointment to the Audit Committee |
Stakeholder Impact
- Shareholders may view the RSU grant positively as it aligns the director's interests with the company's long-term success.
Key Dates
| Date | Description |
|---|---|
| August 9, 2021 | Date of original grant of 966 RSUs, vesting on August 9, 2024. |
| October 12, 2022 | Date of original grant of 3,333 RSUs, vesting in two installments on November 1, 2024 and November 1, 2025. |
| November 30, 2023 | Date of original grant of 5,000 RSUs, vesting in three installments on December 1, 2024, December 1, 2025 and December 1, 2026. |
| April 23, 2024 | Date of RSU grant (3,335 shares) to Lisa Stanton and her appointment to the Audit Committee. |
| April 25, 2024 | Date of signature on the Form 4 filing. |
| December 1, 2024 | Vesting date for 669 shares of the April 23, 2024 RSU grant and installments of previous RSU grants. |
| November 1, 2024 | Vesting date for an installment of the October 12, 2022 RSU grant. |
| August 9, 2024 | Vesting date for the August 9, 2021 RSU grant. |
| December 1, 2025 | Vesting date for 1,333 shares of the April 23, 2024 RSU grant and installments of previous RSU grants. |
| November 1, 2025 | Vesting date for an installment of the October 12, 2022 RSU grant. |
| December 1, 2026 | Vesting date for 1,333 shares of the April 23, 2024 RSU grant and installments of previous RSU grants. |
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