RMBL.Rumbleon, INC

Form 4: RumbleOn Insider Activity: Mark Cohen Transfers Shares to SH Capital Partners

Sentiment:

SEC Form 4 Filing

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Mark Cohen, a director and member of a 10% group of RumbleOn, Inc., transferred 4,882 shares of Class B Common Stock to SH Capital Partners, L.P. on July 17, 2024, representing a bona fide gift.

Summary

  • This document is a Form 4 filing with the SEC, detailing changes in beneficial ownership of RumbleOn, Inc. (RMBL) stock.
  • Mark Cohen, a director of RumbleOn, transferred 4,882 shares of Class B Common Stock to SH Capital Partners, L.P. on July 17, 2024.
  • The transfer is classified as a 'bona fide gift' and is exempt from matching and short-swing liability under Section 16(b) of the Securities Exchange Act.
  • The filing also clarifies a previous report regarding restricted stock units (RSUs) granted to Mark Cohen for his board service, adjusting the total from 12,225 to 10,995 RSUs to account for proration based on his start date as a director.
  • 4,882 RSUs vested on July 1, 2024, and were initially held by Mr. Cohen for the benefit of Partners.
  • The filing is jointly submitted by Mark Cohen, SH Capital Partners, L.P., and Stone House Capital Management, LLC.
  • Each reporting person disclaims beneficial ownership of the securities covered by the statement, except to the extent of their pecuniary interest.

Sentiment

Score: 6

Explanation: The document is a standard regulatory filing, so the sentiment is neutral. The transfer of shares is described as a 'bona fide gift', which could be seen as slightly positive, but overall, it's a routine transaction.

Positives

  • The transfer of shares is classified as a 'bona fide gift', which suggests a non-economic motivation for the transaction.

Industry Context

Form 4 filings are a routine part of the regulatory landscape for publicly traded companies, providing transparency into the transactions of company insiders.

Stakeholder Impact

  • The transfer of shares could have a minor impact on shareholders, depending on the overall perception of the transaction and the entities involved.

Key Dates

DateDescription
March 25, 2024Mark Cohen received a grant of 12,225 restricted stock units (RSUs).
June 25, 2024The RSU grant was revised to 10,995 RSUs.
July 1, 20244,882 RSUs vested.
July 17, 2024Mark Cohen transferred 4,882 shares of Class B Common Stock to SH Capital Partners, L.P.
July 19, 2024Date of the Joint Filing Agreement.

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