Form 4: ServiceNow CEO William McDermott Reports Stock Transactions
SEC Form 4 Filing
William McDermott, CEO of ServiceNow, reports the acquisition and disposal of common stock and restricted stock units related to vesting and tax obligations.
Summary
- On May 7, 2024, William McDermott, the Chairman and CEO of ServiceNow, engaged in transactions involving ServiceNow's common stock and restricted stock units (RSUs).
- He acquired 468 shares of common stock and disposed of 252 shares to cover tax withholding obligations related to RSU vesting at a price of $713.33.
- Additionally, he acquired 519 shares of common stock and disposed of 279 shares for tax obligations at the same price.
- Following these transactions, McDermott directly owns 456 shares and indirectly owns 17,177 shares through a trust.
- He also holds 1,404 restricted stock units that vest quarterly and 15,067 restricted stock units that vest on specific dates in 2024 and quarterly thereafter, contingent upon continued service.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing stock transactions, with no inherent positive or negative sentiment.
Industry Context
Form 4 filings are standard practice for company insiders to report transactions in their company's stock, ensuring transparency and compliance with SEC regulations.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders, as they are related to executive compensation and tax obligations.
Key Dates
| Date | Description |
|---|---|
| 05/07/2021 | First vesting date of 1/16th of the total shares of restricted stock units vesting quarterly. |
| 05/07/2024 | Date of the reported transactions involving common stock and restricted stock units. |
| 05/07/2024 | 3.33% of the shares subject to the restricted stock units will vest. |
| 08/07/2024 | 3.33% of the shares subject to the restricted stock units will vest. |
| 11/07/2024 | 3.34% of the shares subject to the restricted stock units will vest. |
| 02/07/2025 | The remaining 90% of the shares subject to the restricted stock units will vest quarterly beginning on this date. |
| 05/09/2024 | Date of signature for the Form 4 filing. |
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