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

Oleg Shchegolev, CEO of Semrush Holdings, sold 19,225 shares of Class A Common Stock on April 2, 2024, to cover tax withholding obligations related to vesting restricted stock units.

Summary

• On April 2, 2024, Oleg Shchegolev, the CEO of Semrush Holdings, sold 19,225 shares of Class A Common Stock at a weighted average price of $13.21.
• The sale was executed to meet tax withholding obligations arising from the vesting of restricted stock units (RSUs) on April 1, 2024.
• Following the transaction, Shchegolev directly owns 4,397,238 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: 6

Explanation: The document is a routine SEC filing related to an insider stock sale for tax purposes. It doesn't contain any information that would significantly impact investor sentiment positively or negatively.

Industry Context

Form 4 filings are standard practice and provide transparency into the transactions of company insiders. Sales to cover tax obligations are common and don't necessarily indicate a negative outlook on the company.

Stakeholder Impact

• The sale of shares by the CEO could have a minor impact on shareholders, but is unlikely to be significant given the relatively small number of shares sold compared to the total outstanding shares.
• The transaction has no direct impact on employees, customers, suppliers, or creditors.

Key Dates