Form 4: Red Violet Director Peter Benz Receives Stock Grants

Director Peter Benz receives 8,000 restricted stock units (RSUs) and reports existing holdings in Red Violet, Inc.

Summary

• Peter Benz, a director of Red Violet, Inc., filed a Form 4 disclosing changes in beneficial ownership.
• On November 4, 2024, Benz received a grant of 8,000 restricted stock units (RSUs) that convert into common stock on a one-for-one basis.
• These RSUs vest in three approximately equal installments on November 1, 2025, November 1, 2026, and November 1, 2027, subject to accelerated vesting under certain conditions.
• The RSU grant includes 3,760 RSUs for serving as a member of the Company's Board of Directors, 2,960 RSUs for serving as a member of the Audit Committee and 1,280 RSUs for serving as the Chair of the Audit Committee.
• Benz also holds 10,800 RSUs originally granted on November 30, 2023, vesting in installments on December 1, 2024, December 1, 2025, and December 1, 2026.
• Additionally, Benz holds 3,600 RSUs originally granted on October 12, 2022, vesting on November 1, 2025.
• Benz directly owns 103,066 shares of common stock and indirectly owns 20,928 shares through his 401(k) account.

Sentiment

Score: 6

Explanation: Neutral sentiment as it's a standard disclosure of stock grants to a director.

Positives

• The grant of RSUs to a director aligns their interests with those of the shareholders.
• The vesting schedule encourages long-term commitment from the director.

Industry Context

Form 4 filings are standard disclosures for company insiders and provide transparency regarding their transactions in the company's stock.

Stakeholder Impact

• The stock grant to a director can be viewed positively by shareholders as it aligns management's interests with theirs.

Key Dates