Form 4: Semrush CEO Oleg Shchegolev Reports Significant Share Transfers and Conversions

Semrush CEO Oleg Shchegolev reported a series of transactions involving the transfer and conversion of Class A and Class B common stock, including transfers from grantor retained annuity trusts to irrevocable trusts.

Summary

• Oleg Shchegolev, CEO of Semrush Holdings, Inc., filed a Form 4 detailing changes in his beneficial ownership of company stock.
• On December 16, 2024, 1,577,170 shares of Class A Common Stock were transferred from The Oleg Shchegolev Grantor Retained Annuity Trust II to The Oleg Shchegolev Irrevocable Non-Exempt Trust of 2020.
• Additionally, 2,278,204 shares of Class A Common Stock were transferred to Mr. Shchegolev as an annuity payment, which was exempt from Section 16 reporting.
• On December 18, 2024, Mr. Shchegolev converted 1,991,046 shares of Class B Common Stock into Class A Common Stock.
• Following these transactions, Mr. Shchegolev directly owns 7,308,073 shares of Class A Common Stock and indirectly owns 3,238,714 shares through Shchegolev Holdings, LLC.
• The report also details the ownership of shares through various trusts, with Mr. Shchegolev disclaiming beneficial ownership except to the extent of his pecuniary interest.

Sentiment

Score: 5

Explanation: The document is a neutral report of stock transactions and does not indicate any positive or negative sentiment. It is a routine filing.

Industry Context

This filing is a routine disclosure of changes in beneficial ownership by a company insider, which is common in publicly traded companies. It does not indicate any specific industry trend but is a standard practice for transparency.

Comparison to Industry Standards

• Form 4 filings are a standard requirement for company insiders in the US, similar to filings by executives at companies like Alphabet (GOOGL) or Meta (META).
• The transactions reported are typical for executives managing their personal holdings and trusts, and are not unusual compared to similar filings by other public company executives.
• The use of trusts for estate planning and asset management is a common practice among high-net-worth individuals, including corporate executives.

Stakeholder Impact

• The transactions do not have a direct impact on stakeholders, as they are internal transfers and conversions of shares held by the CEO.
• The filing provides transparency to shareholders regarding the CEO's ownership of company stock.

Key Dates

Keywords

Semrush, Oleg Shchegolev, Form 4, Beneficial Ownership, Class A Common Stock, Class B Common Stock, Share Transfer, Stock Conversion, Trusts, SEC Filing