Form 4: Red Violet Director Steven D. Rubin Acquires 8,000 Restricted Stock Units
SEC Form 4 Filing
Steven D. Rubin, a director at Red Violet, Inc., acquired 8,000 restricted stock units convertible into common stock, according to a recent SEC filing.
Summary
- On November 4, 2024, Steven D. Rubin, a director of Red Violet, Inc., was granted 8,000 restricted stock units (RSUs).
- These RSUs are convertible into common stock on a one-for-one basis.
- The RSUs vest in approximately three 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 Compensation Committee.
- Rubin also holds 10,800 RSUs from a previous grant on November 30, 2023, vesting in installments on December 1, 2024, December 1, 2025, and December 1, 2026.
- Additionally, he holds 3,600 RSUs from an October 12, 2022 grant, vesting on November 1, 2025.
- Rubin has elected to defer delivery of 55,600 vested RSUs until separation of service, death, or disability.
- Following the reported transaction, Rubin beneficially owns 151,138 shares of common stock.
Sentiment
Score: 7
Explanation: The sentiment is neutral to slightly positive. The RSU grant is a standard practice, indicating confidence, but doesn't necessarily signal extraordinary performance.
Positives
- The acquisition of RSUs by a director signals confidence in the company's future performance.
- The vesting schedule incentivizes long-term commitment from the director.
- The RSU grants for committee service align director compensation with their responsibilities.
Future Outlook
The vesting schedule of the RSUs indicates a multi-year horizon for the director's alignment with the company's performance.
Industry Context
Insider transactions are closely monitored as indicators of management's and directors' confidence in the company's prospects within the broader technology and data analytics industry.
Stakeholder Impact
- The RSU grant aligns the director's interests with those of the shareholders.
- Employees may view the grant as a positive sign of the company's commitment to its leadership.
Key Dates
| Date | Description |
|---|---|
| October 12, 2022 | Date of original grant of 3,600 RSUs, vesting on November 1, 2025. |
| November 30, 2023 | Date of original grant of 10,800 RSUs, vesting in installments on December 1, 2024, December 1, 2025, and December 1, 2026. |
| November 4, 2024 | Date of grant of 8,000 restricted stock units. |
| November 1, 2025 | First vesting date for a portion of the 8,000 RSUs granted on November 4, 2024, and vesting date for 3,600 RSUs granted on October 12, 2022. |
| December 1, 2025 | Second vesting date for a portion of the 10,800 RSUs granted on November 30, 2023. |
| November 1, 2026 | Second vesting date for a portion of the 8,000 RSUs granted on November 4, 2024. |
| December 1, 2026 | Third vesting date for a portion of the 10,800 RSUs granted on November 30, 2023. |
| November 1, 2027 | Third vesting date for a portion of the 8,000 RSUs granted on November 4, 2024. |
| November 5, 2024 | Date of signature on the SEC Form 4 filing. |
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