Form 4: Root Inc. CEO Alexander Timm Reports Stock Transactions
SEC Form 4 Filing
CEO Alexander Timm reports acquisition and disposal of Root, Inc. Class A Common Stock related to vesting of performance-based restricted stock units.
Summary
- On April 1, 2024, Alexander Timm, CEO of Root, Inc., had 3,550 shares of Class A Common Stock withheld by the issuer to cover tax obligations related to vesting restricted stock units at a price of $60.52.
- On the same day, Timm acquired 15,344 shares of Class A Common Stock at $0.
- On April 2, 2024, Timm converted 20,990 Performance-Based Restricted Stock Units (PSUs) into Class A Common Stock at $0.
- Also on April 2, 2024, 9,676 shares of Class A Common Stock were withheld to cover tax obligations at a price of $62.08.
- Following these transactions, Timm directly owns 178,009 shares of Class A Common Stock and 188,906 derivative securities.
Sentiment
Score: 5
Explanation: This is a routine filing related to executive compensation and stock transactions; it doesn't inherently indicate positive or negative sentiment.
Future Outlook
The vesting of the remaining Performance-Based Restricted Stock Units (PSUs) is contingent upon Root Class A common stock achieving specified price targets over 45 consecutive trading days between April 1, 2025, and April 1, 2027.
Industry Context
Form 4 filings are standard disclosures required by the SEC when company insiders, like the CEO, trade their company's stock; this provides transparency to the market.
Key Dates
| Date | Description |
|---|---|
| 04/01/2024 | Withholding of 3,550 shares for tax obligations and acquisition of 15,344 shares. |
| 04/02/2024 | Conversion of 20,990 PSUs and withholding of 9,676 shares for tax obligations. |
| 04/01/2028 | Expiration date for Performance-Based Restricted Stock Units. |
| 04/03/2024 | Date of signature for the Form 4 filing. |
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