Form 4: Semrush CEO Oleg Shchegolev Reports Changes in Beneficial Ownership

Oleg Shchegolev, CEO of Semrush Holdings, Inc., reports changes in his beneficial ownership of the company's Class A Common Stock due to a restricted stock unit grant.

Summary

• Oleg Shchegolev, CEO of Semrush Holdings, Inc., filed a Form 4 with the SEC on March 5, 2024, reporting changes in his beneficial ownership of the company's stock.
• The reported transactions include the grant of 318,471 restricted stock units (RSUs) on March 1, 2024, under the company's 2021 Stock Option and Incentive Plan.
• These RSUs vest over three years, with one-third vesting on March 1, 2025, and the remainder vesting in equal quarterly installments over the following 24 months.
• Following the reported transactions, Shchegolev directly owns 4,416,463 shares of Class A Common Stock, a portion of which are RSUs.
• He also indirectly owns 27,662,150 shares through The Oleg Shchegolev Irrevocable Non-Exempt Trust of 2020, 3,092,714 shares through Shchegolev Holdings, LLC, and 3,855,374 shares through The Oleg Shchegolev Grantor Retained Annuity Trust II.
• Shchegolev disclaims beneficial ownership of the shares held by the trusts and LLC, except to the extent of his pecuniary interest therein.

Sentiment

Score: 5

Explanation: The document is a neutral regulatory filing, so the sentiment is neither positive nor negative.

Positives

• The grant of RSUs to the CEO aligns his interests with those of the shareholders, incentivizing him to drive long-term value creation.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the ownership positions of company insiders.

Stakeholder Impact

• The RSU grant could have a slightly positive impact on shareholder sentiment as it aligns management's interests with theirs.

Key Dates