Form 4: Red Violet Inc. President James Patrick Reilly Reports Stock Transactions
SEC Form 4
James Patrick Reilly, President of Red Violet, Inc., reports acquisition and disposition of company stock and restricted stock units (RSUs).
Summary
- On November 1, 2024, James Patrick Reilly, President of Red Violet, Inc., acquired 13,333 shares of common stock through the vesting of restricted stock units (RSUs).
- On the same day, Reilly disposed of 6,667 shares to cover tax obligations related to the RSU vesting at a price of $30.08 per share.
- Following these transactions, Reilly directly owns 250,624 shares of Red Violet, Inc.
- On November 4, 2024, Reilly received a grant of 31,500 RSUs which vest in three equal installments on November 1, 2025, November 1, 2026, and November 1, 2027.
- After the grant, Reilly beneficially owns 282,124 shares.
Sentiment
Score: 6
Explanation: Neutral sentiment as the document primarily reports routine stock transactions related to RSU vesting and tax obligations.
Positives
- The acquisition of shares through RSU vesting demonstrates Reilly's continued stake in the company's success.
- The grant of additional RSUs aligns Reilly's interests with long-term shareholder value.
Negatives
- The disposition of shares to cover tax obligations, while common, slightly reduces Reilly's holdings.
Risks
- Future tax obligations related to RSU vesting could lead to further disposition of shares by Reilly.
Future Outlook
The document outlines future vesting dates for RSUs, indicating potential future increases in Reilly's stock ownership.
Industry Context
Form 4 filings are standard practice for reporting insider transactions and provide transparency to investors.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in beneficial ownership of a key executive.
Key Dates
| Date | Description |
|---|---|
| October 12, 2022 | Date of original RSU grant approved by the Company's Compensation Committee. |
| November 30, 2023 | Date of original grant of 40,000 RSUs vesting in three equal installments. |
| November 1, 2024 | Reilly acquired 13,333 shares through RSU vesting and disposed of 6,667 shares for tax obligations. |
| November 4, 2024 | Reilly received a grant of 31,500 RSUs. |
| November 1, 2025 | First vesting date for the 31,500 RSUs granted on November 4, 2024. |
| December 1, 2024 | First vesting date for the 40,000 RSUs originally granted on November 30, 2023. |
| November 1, 2026 | Second vesting date for the 31,500 RSUs granted on November 4, 2024. |
| December 1, 2025 | Second vesting date for the 40,000 RSUs originally granted on November 30, 2023. |
| November 1, 2027 | Third vesting date for the 31,500 RSUs granted on November 4, 2024. |
| December 1, 2026 | Third vesting date for the 40,000 RSUs originally granted on November 30, 2023. |
| November 5, 2024 | Date of signature on the Form 4 filing. |
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