Form 4: RumbleOn Director Mark Cohen Receives Restricted Stock Units

Mark Cohen, a director of RumbleOn, Inc., received 28,531 restricted stock units (RSUs) on August 9, 2024, which will vest on June 4, 2025.

Summary

• On August 9, 2024, Mark Cohen, a director of RumbleOn, Inc., was granted 28,531 restricted stock units (RSUs).
• The RSUs were calculated based on the share price following the release of Q2 2024 earnings.
• Each RSU represents a contingent right to receive one share of RMBL Class B Common Stock.
• The RSUs will vest on June 4, 2025, subject to pro rata vesting if Mr. Cohen leaves the board before that date.
• The RSUs are held in an account by Mr. Cohen for the benefit of SH Capital Partners, L.P.
• Upon vesting, the shares are intended to be transferred to Partners.
• The filing is jointly made by Mr. Cohen, SH Capital Partners, L.P., and Stone House Capital Management, LLC.
• Partners is the direct beneficial owner of the securities.
• Stone House is the general partner and investment manager of Partners and may be deemed to beneficially own the securities.
• Mr. Cohen is the managing member of Stone House and may be deemed to beneficially own securities owned by Stone House.
• Each reporting person disclaims beneficial ownership except to the extent of their pecuniary interest.
• The reporting persons may be deemed a member of a group with respect to the issuer.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The granting of RSUs to a director is a common practice and generally viewed as a positive sign of aligning management's interests with shareholders.

Positives

• The grant of RSUs to a director aligns his interests with those of the shareholders.

Future Outlook

The RSUs will vest on June 4, 2025, contingent on Mr. Cohen's continued service on the board.

Industry Context

This is a standard practice for aligning the interests of company directors with those of the shareholders through equity-based compensation.

Comparison to Industry Standards

• Equity compensation is a common practice among publicly traded companies to incentivize and retain key personnel, including directors.
• The vesting schedule of the RSUs is typical, often spanning one to four years to encourage long-term commitment.
• Companies like Carvana and Vroom, which also operate in the online automotive retail space, similarly use equity grants as part of their compensation packages.

Stakeholder Impact

• The grant of RSUs aligns the director's interests with those of the shareholders, potentially leading to decisions that benefit the company's long-term value.
• The vesting of RSUs is contingent on continued service, which may incentivize the director to remain with the company.

Key Dates