Form 4: Redfin CTO Bridget Frey Reports Stock Transactions
SEC Form 4
Bridget Frey, Chief Technology Officer of Redfin, reports the vesting and subsequent disposal of shares to cover tax obligations.
Summary
- On May 20, 2024, Bridget Frey, the Chief Technology Officer of Redfin, engaged in multiple transactions involving Redfin's common stock and restricted stock units.
- These transactions included the vesting of restricted stock units and the subsequent disposal of shares to satisfy tax withholding obligations.
- Specifically, 983, 842, 4,627, and 8,215 restricted stock units vested and converted into common stock.
- Following the vesting, 240, 206, 1,127, and 2,001 shares were disposed of at a price of $7.11 to cover tax liabilities.
- After these transactions, Frey directly owns 440,042 shares of Redfin common stock and holds 73,238 restricted stock units.
Sentiment
Score: 5
Explanation: This is a neutral report of stock transactions, with no inherent positive or negative implications for the company's performance.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies like Redfin.
Comparison to Industry Standards
- Executive stock transactions are a standard part of compensation packages in publicly traded companies.
- Similar transactions are regularly reported by executives at companies like Zillow, Opendoor, and Compass.
Stakeholder Impact
- The transactions have a minimal impact on shareholders, as they are related to executive compensation and tax obligations.
Key Dates
| Date | Description |
|---|---|
| 05/20/2021 | 1/4 of the 983 restricted stock units vested |
| 05/20/2022 | 1/4 of the 842 restricted stock units vested |
| 08/20/2023 | 1/8 of the 8,215 restricted stock units vested |
| 05/20/2023 | 1/4 of the 4,627 restricted stock units vested |
| 05/20/2024 | Date of transactions: vesting of RSUs and disposal of shares for tax obligations |
| 05/20/2024 | 100% of the 983 restricted stock units will be vested |
| 05/20/2025 | 100% of the 842 restricted stock units will be vested |
| 05/20/2026 | 100% of the 4,627 restricted stock units will be vested |
| 12/01/2030 | Expiration date of 983 Restricted Stock Units |
| 06/01/2031 | Expiration date of 842 Restricted Stock Units |
| 05/26/2032 | Expiration date of 4,627 Restricted Stock Units |
| 05/30/2033 | Expiration date of 8,215 Restricted Stock Units |
| 05/22/2024 | Date of filing |
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