4/A: Semrush Director Dmitry Melnikov Amends Filing to Reflect Trust Transfer and Tax Obligation Sales

Dmitry Melnikov, a director and 10% owner of Semrush Holdings, Inc., amended a previous SEC filing to accurately reflect a transfer of shares to a family trust and sales to cover tax obligations from vested restricted stock units.

Summary

• Dmitry Melnikov, a director and 10% owner of Semrush Holdings, Inc. (SEMR), filed an amended Form 4 with the SEC.
• The amendment corrects an earlier filing from April 4, 2024, which did not reflect the transfer of 1,644,626 shares of Class A Common Stock to The Dmitry Melnikov Grantor Retained Annuity Trust Four.
• The transfer was made on March 11, 2024, for no consideration.
• Melnikov also sold 1,445 shares of Class A Common Stock on April 2, 2024, at a weighted average price of $13.12, ranging from $13.05 to $13.16.
• This sale was to cover tax withholding obligations resulting from the vesting of restricted stock units (RSUs) on April 1, 2024, and was not a discretionary trade.
• Following the reported transactions, Melnikov beneficially owns 1,327,537 shares of Class A Common Stock directly and continues to have indirect ownership through the trust.
• The trust is managed by IQ EQ Trust Company, US, LLC, with Melnikov's spouse acting as the trust advisor, directing voting and disposal of assets.

Sentiment

Score: 6

Explanation: The document is a routine regulatory filing, so the sentiment is neutral. The transactions themselves (transfer to a trust, sale for tax obligations) don't inherently indicate positive or negative sentiment about the company's prospects.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This amended filing ensures accurate reporting of Dmitry Melnikov's transactions in Semrush stock.

Related Party Transactions

• The transfer of 1,644,626 shares to The Dmitry Melnikov Grantor Retained Annuity Trust Four is a related party transaction, as the trust benefits members of Melnikov's family.

Stakeholder Impact

• The filing provides transparency to shareholders regarding insider transactions.
• The sale of shares to cover tax obligations has a minimal impact on the overall market.

Key Dates