Form 4: Semrush Executive Sells Shares to Cover Tax Obligations Following RSU Vesting

A Semrush executive, Andrew Warden, sold shares to cover tax obligations related to the vesting of restricted stock units (RSUs).

Summary

• Andrew Warden, Chief Marketing Officer at Semrush Holdings, Inc., sold shares of Class A Common Stock to cover tax obligations.
• The sales occurred on three separate dates: November 16, 2022, January 9, 2023, and January 7, 2025.
• These sales were triggered by the vesting of restricted stock units (RSUs) on October 1, 2022, January 1, 2023 and January 1, 2025 respectively.
• The sales were not discretionary trades by the reporting person.
• A total of 14,152 shares were sold across the three transactions.
• The weighted average sale prices were $9.61, $8.24, and $11.71 per share respectively.
• The executive still holds 276,656 shares of Class A Common Stock after these transactions.
• An error in a previous filing on April 5, 2023, regarding the number of shares beneficially owned was corrected in this filing.

Sentiment

Score: 5

Explanation: The document is a routine SEC filing related to stock sales for tax purposes, and does not indicate any positive or negative sentiment.

Industry Context

This is a routine filing related to executive compensation and tax obligations, and is common for companies that use stock-based compensation.

Comparison to Industry Standards

• Sales of shares by executives to cover tax obligations from RSU vesting are a common practice across publicly traded companies.
• The weighted average prices are within the range of normal market fluctuations for a company like Semrush.
• The number of shares sold is relatively small compared to the total shares outstanding, and is not unusual for an executive's tax obligations.

Stakeholder Impact

• The stock sales are unlikely to have a significant impact on shareholders as they are routine transactions to cover tax obligations.

Key Dates

Keywords

Semrush, insider trading, Form 4, stock sale, RSU, restricted stock units, tax obligations, executive, Andrew Warden, SEMR