Form 4: Redfin's Chief Technology Officer, Bridget Frey, Reports Stock Unit Acquisition
SEC Form 4
Bridget Frey, Chief Technology Officer of Redfin, reports the acquisition of restricted stock units.
Summary
- On May 28, 2024, Bridget Frey, the Chief Technology Officer of Redfin, filed a Form 4 to report changes in beneficial ownership of Redfin Corp [RDFN] securities.
- The report details the acquisition of 95,846 restricted stock units on May 28, 2024, 32,859 restricted stock units on May 30, 2023, 37,014 restricted stock units on May 26, 2022 and 3,365 restricted stock units on June 01, 2021.
- These restricted stock units convert into common stock on a one-for-one basis upon settlement.
- The vesting schedule for the 95,846 restricted stock units acquired on May 28, 2024, is 1/8 vesting on August 20, 2024, and quarterly thereafter, with 100% vesting by May 20, 2026.
- The vesting schedule for the 32,859 restricted stock units acquired on May 30, 2023, is 1/8 vesting on August 20, 2023, and quarterly thereafter, with 100% vesting by May 20, 2025.
- The vesting schedule for the 37,014 restricted stock units acquired on May 26, 2022, is 1/4 vesting on May 20, 2023, and 1/16 quarterly thereafter, with 100% vesting by May 20, 2026.
- The vesting schedule for the 3,365 restricted stock units acquired on June 01, 2021, is 1/4 vesting on May 20, 2022, and 1/16 quarterly thereafter, with 100% vesting by May 20, 2025.
- Following the reported transactions, Frey directly owns 95,846 derivative securities.
Sentiment
Score: 6
Explanation: The sentiment is neutral. It's a routine filing indicating stock unit acquisition, which can be seen as a positive sign of executive confidence, but doesn't provide enough information to strongly influence sentiment.
Positives
- The acquisition of restricted stock units by a key executive could be seen as a positive sign, indicating confidence in the company's future performance.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. These filings are closely watched by investors seeking insights into management's perspective on the company's stock.
Stakeholder Impact
- Shareholders may view the acquisition of restricted stock units by the CTO as a sign of confidence in the company's future prospects.
Key Dates
| Date | Description |
|---|---|
| 06/01/2021 | Date of restricted stock unit acquisition (3,365 units) |
| 05/20/2022 | 1/4 of the 3,365 restricted stock units vested |
| 05/26/2022 | Date of restricted stock unit acquisition (37,014 units) |
| 05/20/2023 | 1/4 of the 37,014 restricted stock units vested |
| 05/30/2023 | Date of restricted stock unit acquisition (32,859 units) |
| 08/20/2023 | 1/8 of the 32,859 restricted stock units will vest |
| 05/28/2024 | Date of restricted stock unit acquisition (95,846 units) |
| 05/29/2024 | Date of Form 4 filing |
| 08/20/2024 | 1/8 of the 95,846 restricted stock units will vest |
| 05/20/2025 | 100% of the 3,365 restricted stock units will be vested |
| 05/20/2025 | 100% of the 32,859 restricted stock units will be vested |
| 05/20/2026 | 100% of the 37,014 restricted stock units will be vested |
| 05/20/2026 | 100% of the 95,846 restricted stock units will be vested |
| 05/26/2032 | Expiration date for restricted stock units |
| 05/30/2033 | Expiration date for restricted stock units |
| 05/28/2034 | Expiration date for restricted stock units |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.