Form 4: Semrush CEO Oleg Shchegolev Sells Shares to Cover Tax Obligations

Oleg Shchegolev, CEO of Semrush Holdings, Inc., sold 8,964 shares of Class A Common Stock to cover tax withholding obligations related to vesting of restricted stock units.

Summary

• On October 2, 2024, Oleg Shchegolev, the CEO of Semrush Holdings, Inc., sold 8,964 shares of Class A Common Stock.
• The sale was executed to meet tax withholding obligations resulting from the vesting of restricted stock units (RSUs) on October 1, 2024.
• The shares were sold at a weighted average price of $14.14, with individual transactions ranging from $13.97 to $14.89.
• Following the transaction, Shchegolev directly owns 4,378,823 shares of Class A Common Stock.
• He also indirectly owns shares through The Oleg Shchegolev Grantor Retained Annuity Trust II (3,855,374 shares), The Oleg Shchegolev Irrevocable Non-Exempt Trust of 2020 (27,662,150 shares), and Shchegolev Holdings, LLC (3,092,714 shares).
• Shchegolev disclaims beneficial ownership of the indirectly held shares except to the extent of his pecuniary interest.

Sentiment

Score: 5

Explanation: This is a neutral event. The sale is related to tax obligations and doesn't necessarily indicate a negative outlook on the company.

Industry Context

This is a routine Form 4 filing related to insider transactions. It is common for executives to sell shares to cover tax obligations when RSUs vest.

Stakeholder Impact

• The sale of shares by the CEO could have a minor impact on shareholder sentiment, but is unlikely to have a significant long-term effect.

Key Dates