Form 4: ServiceNow Executive Christopher Bedi Reports Stock Transactions
SEC Form 4 Filing
Christopher Bedi, Chief Digital Information Officer of ServiceNow, reported transactions involving common stock and restricted stock units on May 7, 2024.
Summary
- Christopher Bedi, the Chief Digital Information Officer of ServiceNow, filed a Form 4 with the SEC.
- The filing reports transactions that occurred on May 7, 2024.
- These transactions involved common stock and restricted stock units (RSUs).
- Bedi acquired 106 shares of common stock and disposed of 57 shares to cover tax obligations at a price of $713.33.
- Additionally, Bedi acquired 974 shares of common stock and disposed of 524 shares to cover tax obligations at a price of $713.33.
- Following these transactions, Bedi directly owns 15,962 shares of common stock.
- Bedi also transacted in restricted stock units, acquiring 106 and 974 units, resulting in a total of 4,871 RSUs owned.
- The RSUs vest quarterly, subject to Bedi's continued service with ServiceNow.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the filing simply reports routine stock transactions related to vesting RSUs and tax obligations.
Future Outlook
The restricted stock units vest quarterly, contingent upon the reporting person's continued service to the Issuer on each vesting date.
Industry Context
Form 4 filings are routine disclosures required by the SEC to provide transparency into the transactions of company insiders, allowing investors to track management's sentiment and actions regarding their company's stock.
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 quarterly for some restricted stock units. |
| 05/07/2024 | Date of the reported transactions involving common stock and restricted stock units. |
| 05/07/2024 | 16.66% of the shares subject to the restricted stock units will vest. |
| 05/09/2024 | Date of the Form 4 filing. |
| 08/07/2024 | 16.67% of the shares subject to the restricted stock units will vest. |
| 11/07/2024 | 16.67% of the shares subject to the restricted stock units will vest. |
| 02/07/2025 | Remaining 50% of the shares subject to the restricted stock units will vest quarterly beginning on this date. |
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