Form 4: Red Violet Director William Livek Receives Stock Grants Upon Audit Committee Appointment
SEC Form 4
Director William Livek received 1,980 restricted stock units (RSUs) from Red Violet, Inc. upon being appointed to the company's Audit Committee.
Summary
- William Livek, a director of Red Violet, Inc., received 1,980 restricted stock units (RSUs) on March 4, 2025.
- These RSUs are convertible into common stock on a one-for-one basis.
- The RSUs vest in installments: 496 shares on November 1, 2025, and 742 shares on each of November 1, 2026, and 2027.
- The vesting is subject to accelerated vesting under certain conditions.
- The grant was awarded because Livek was appointed to serve on the Company's Audit Committee effective March 4, 2025.
- Livek also holds 3,760 RSUs granted on November 4, 2024, vesting in three installments on November 1, 2025, 2026, and 2027.
- Additionally, he holds 2,766 RSUs granted on January 5, 2024, vesting in two installments on December 1, 2025, and December 1, 2026.
- Following the transaction, Livek beneficially owns 14,890 shares.
Sentiment
Score: 7
Explanation: The document reflects a standard corporate governance practice of granting stock to directors, which is generally viewed positively. The appointment to the audit committee also suggests a commitment to strong governance.
Positives
- The grant of RSUs to William Livek aligns his interests with those of the company and its shareholders.
- Livek's appointment to the Audit Committee suggests a strengthening of the company's governance structure.
Future Outlook
The document outlines future vesting dates for the granted RSUs, indicating the timeline for potential conversion into common stock.
Industry Context
Stock grants to directors are a common practice to align their interests with shareholders and incentivize performance. Audit committee appointments are also standard corporate governance practice.
Management Changes
| Role | Previous Person | New Person | Effective Date | Reason |
|---|---|---|---|---|
| Audit Committee Member | N/A | William Livek | 2025-03-04 | Appointment |
Stakeholder Impact
- Shareholders may view the RSU grant positively as it aligns the director's interests with theirs.
- Employees may see this as a positive sign of the company's commitment to its leadership.
Key Dates
| Date | Description |
|---|---|
| 2024-01-05 | Date of original grant of 2,766 RSUs. |
| 2024-11-04 | Date of original grant of 3,760 RSUs. |
| 2025-03-04 | Date of RSU grant and Audit Committee appointment. |
| 2025-03-05 | Date of signature on the Form 4. |
| 2025-11-01 | First vesting date for a portion of the March 4, 2025 and November 4, 2024 RSU grants. |
| 2025-12-01 | First vesting date for a portion of the January 5, 2024 RSU grants. |
| 2026-11-01 | Second vesting date for a portion of the March 4, 2025 and November 4, 2024 RSU grants. |
| 2026-12-01 | Second vesting date for a portion of the January 5, 2024 RSU grants. |
| 2027-11-01 | Final vesting date for a portion of the March 4, 2025 and November 4, 2024 RSU grants. |
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