Form 4: ServiceNow Executive Amit Zavery Reports Stock Transactions

Amit Zavery, President, CPO, and COO of ServiceNow, reports the vesting and subsequent tax-related disposal of shares.

Summary

• On February 7, 2025, Amit Zavery, President, CPO, and COO of ServiceNow, engaged in transactions involving ServiceNow's common stock.
• Zavery acquired 4,056 shares of common stock through the vesting of restricted stock units (RSUs).
• Simultaneously, Zavery disposed of 1,870 shares to cover federal and state tax withholding obligations related to the RSU vesting, with the shares sold at a price of $1,008.29.
• Following these transactions, Zavery directly owns 2,231 shares of ServiceNow common stock and 20,160 restricted stock units.
• The RSUs vest in installments, with 16.75% vesting quarterly on February 7, May 7, August 7, and November 7, 2025, and the remaining 33% vesting quarterly beginning on February 7, 2026, contingent upon continued service to ServiceNow.

Sentiment

Score: 5

Explanation: Neutral sentiment as the document simply reports routine stock transactions related to executive compensation.

Future Outlook

The remaining RSUs will continue to vest quarterly, subject to the reporting person's continued service to the Issuer.

Industry Context

Executive stock transactions are a common occurrence in publicly traded companies and are often related to compensation packages. Form 4 filings provide transparency into these transactions.

Comparison to Industry Standards

• Executive compensation packages often include restricted stock units (RSUs) that vest over time, aligning executive incentives with long-term company performance.
• The practice of selling shares to cover tax obligations upon RSU vesting is standard across many publicly traded companies, including peers like Salesforce (CRM) and Microsoft (MSFT).
• The vesting schedule of ServiceNow's RSUs, with quarterly vesting over several years, is a typical structure designed to retain key personnel.

Stakeholder Impact

• The transactions have a minimal direct impact on shareholders, as they are related to executive compensation and tax obligations.
• The vesting of RSUs incentivizes the executive to continue contributing to the company's success.

Key Dates