Form 4: Roku Executive Matthew C. Banks Reports Stock Transactions
SEC Form 4 Filing
Matthew C. Banks, VP, Corp Controller & CAO of Roku, Inc., reports the acquisition and disposal of Class A Common Stock and Restricted Stock Units (RSUs) on September 3rd and 4th, 2024.
Summary
- On September 3, 2024, Matthew C. Banks, VP, Corp Controller & CAO of Roku, Inc., acquired 3,333 shares of Class A Common Stock at $0.00 and disposed of 1,655 shares at $65.22 to cover income tax withholding related to vesting RSUs.
- He also disposed of 208 shares of Class A Common Stock on September 4, 2024, at $64.39 pursuant to a 10b5-1 plan.
- Additionally, Banks exercised Restricted Stock Units (RSUs) converting them into shares of Class A Common Stock.
- These transactions changed his direct ownership of Class A Common Stock to 7,264 shares.
- He also holds multiple tranches of RSUs that vest quarterly.
Sentiment
Score: 5
Explanation: This is a neutral filing reflecting routine transactions. It doesn't indicate positive or negative sentiment about the company's prospects.
Industry Context
Form 4 filings are a routine part of the US stock market, 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.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies in the US, ensuring compliance with SEC regulations.
- The transactions reported are typical for executives who receive stock-based compensation, such as RSUs, and may periodically sell shares to cover tax obligations or for personal financial planning.
- Companies like Netflix, Amazon, and Google also have executives who regularly file Form 4s, reflecting similar transactions.
Stakeholder Impact
- The transactions are unlikely to have a significant impact on stakeholders as they are routine and related to executive compensation.
Key Dates
| Date | Description |
|---|---|
| June 1, 2021 | First installment vested for one RSU award that vests in sixteen substantially equal quarterly installments. |
| June 1, 2022 | First installment vested for two RSU awards that vest in twelve and fifteen substantially equal quarterly installments. |
| June 1, 2023 | First installment vested for one RSU award that vests in fifteen substantially equal quarterly installments. |
| November 15, 2023 | First installment vested for one RSU award that vests in twelve substantially equal quarterly installments. |
| September 3, 2024 | Date of acquisition and disposal of Class A Common Stock and exercise of Restricted Stock Units. |
| September 4, 2024 | Date of disposal of Class A Common Stock pursuant to a 10b5-1 plan. |
| September 5, 2024 | Date of signature for the Form 4 filing. |
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