RDVT.NASDAQRed Violet, INC

Form 4: Red Violet Director Peter Benz Sells Shares in Multiple Transactions

Sentiment:

SEC Form 4 Filing

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Red Violet director Peter Benz sold a total of 25,000 common shares in multiple transactions over two days, with prices ranging from $36.90 to $38.00.

Summary

  • Peter Benz, a director at Red Violet, Inc., sold a total of 25,000 shares of common stock.
  • The sales occurred over two days, November 26 and November 27, 2024.
  • On November 26, 2024, 2,300 shares were sold at a weighted average price of $38.00, and 20,000 shares were sold at a weighted average price of $37.37.
  • On November 27, 2024, 2,700 shares were sold at a weighted average price of $37.27.
  • Following these transactions, Peter Benz directly owns 78,066 shares of common stock and indirectly owns 20,928 shares through his 401(k) account.
  • The director also holds 22,400 restricted stock units (RSUs) that vest over the next few years.

Sentiment

Score: 4

Explanation: The document itself is neutral, but the fact that a director is selling shares could be interpreted negatively by the market, hence the lower score.

Negatives

  • The sale of 25,000 shares by a director could be perceived negatively by the market.

Risks

  • Further sales by insiders could put downward pressure on the stock price.
  • The market may interpret the sales as a lack of confidence in the company's future prospects.

Industry Context

This is a standard SEC Form 4 filing, which is common for publicly traded companies when insiders buy or sell shares. It provides transparency into the trading activities of company directors.

Comparison to Industry Standards

  • Form 4 filings are a standard practice for all publicly traded companies in the US.
  • The level of detail provided in this filing is consistent with SEC requirements.
  • The trading activity is not unusual for a director, but the market reaction will depend on the overall sentiment towards the company.

Stakeholder Impact

  • Shareholders may react to the news of a director selling shares.
  • The stock price could be affected by this transaction.

Key Dates

DateDescription
10/12/2022Date of original grant of 3,600 RSUs that vest on November 1, 2025.
11/30/2023Date of original grant of 10,800 RSUs that vest in three installments starting December 1, 2024.
11/04/2024Date of original grant of 8,000 RSUs that vest in three installments starting November 1, 2025.
11/26/2024Date of first reported stock sales by Peter Benz.
11/27/2024Date of second reported stock sales by Peter Benz and date of filing.
12/01/2024First vesting date for 10,800 RSUs granted on November 30, 2023.
11/01/2025First vesting date for 8,000 RSUs granted on November 4, 2024 and vesting date for 3,600 RSUs granted on October 12, 2022.
12/01/2025Second vesting date for 10,800 RSUs granted on November 30, 2023.
11/01/2026Second vesting date for 8,000 RSUs granted on November 4, 2024.
12/01/2026Third vesting date for 10,800 RSUs granted on November 30, 2023.
11/01/2027Third vesting date for 8,000 RSUs granted on November 4, 2024.

Keywords

Red Violet, RDVT, Peter Benz, insider trading, stock sale, Form 4, director, common stock, restricted stock units, RSU

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