Form 4: RumbleOn Director William Coulter Receives Stock Grant

Director William Coulter receives 28,531 restricted stock units (RSUs) and reports beneficial ownership of over 6 million shares of RumbleOn, Inc.

Summary

• On August 9, 2024, William Coulter, a director and 10% owner of RumbleOn, Inc., received a grant of 28,531 restricted stock units (RSUs).
• These RSUs were calculated based on the share price following the release of Q2 2024 earnings.
• Each RSU represents the 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 Coulter leaves the board before that date.
• Following the transaction, Coulter beneficially owns 6,350,020 shares of Class B Common Stock.
• This includes shares held directly and indirectly through The WRC 2021 Irrevocable Trust and WJC Properties, L.L.C., where Coulter serves as Trustee and Manager, respectively.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. The RSU grant is a standard practice and aligns director interests with shareholders. The large ownership stake indicates confidence in the company.

Positives

• The grant of RSUs to a director aligns their interests with those of the shareholders.
• Coulter's significant ownership stake demonstrates a strong commitment to the company.

Risks

• The pro rata vesting of RSUs if Coulter leaves the board before June 4, 2025, could be a risk if his departure is not well-managed.

Future Outlook

The RSUs will vest on June 4, 2025, contingent on continued service on the board of directors.

Industry Context

Stock grants to directors are a common practice to incentivize and align their interests with the company's long-term performance. The size of the grant and vesting schedule are typical for director compensation.

Comparison to Industry Standards

• Director compensation packages, including stock grants, vary widely across industries and company sizes.
• Comparing RumbleOn's director compensation to similar-sized companies in the automotive or e-commerce sectors would provide a better benchmark.
• Companies like Carvana or Vroom could be considered peers for comparison purposes.

Stakeholder Impact

• Shareholders: The RSU grant aligns director interests with shareholder value.
• Employees: The grant could boost employee morale by demonstrating confidence in the company's future.

Key Dates