Form 4: Reddit CFO Andrew Vollero Sells Shares to Cover Taxes After RSU Vesting
SEC Form 4 Filing
Reddit's Chief Financial Officer, Andrew Vollero, sold 50,580 shares of Class A Common Stock on May 23, 2024, to cover withholding taxes related to the vesting of restricted stock units.
Summary
- On May 23, 2024, Andrew Vollero, the Chief Financial Officer of Reddit, Inc., sold 50,580 shares of Class A Common Stock.
- The sale was executed at a weighted average price of $58.9433 per share.
- This transaction was an automatic sell-to-cover imposed by the terms of the initial grant of restricted stock unit awards (RSUs).
- The shares were sold solely to cover applicable withholding taxes upon the vesting of the RSUs.
- Following the transaction, Vollero still beneficially owns 631,080 shares of Reddit's Class A Common Stock.
Sentiment
Score: 5
Explanation: The document describes a routine transaction (sell-to-cover for taxes) and doesn't indicate any significant positive or negative sentiment.
Industry Context
Sales of shares to cover tax obligations upon vesting of restricted stock units are a common practice among corporate executives.
Key Dates
| Date | Description |
|---|---|
| 05/23/2024 | Date of transaction: Andrew Vollero sold shares of Class A Common Stock. |
| 05/28/2024 | Date of signature for the Form 4 filing. |
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