Form 4: ServiceNow Executive Nicholas Tzitzon Reports Stock Transactions
SEC Form 4 Filing
Nicholas Tzitzon, Chief Strategy & Corporate Affairs Officer at ServiceNow, reports transactions involving common stock and restricted stock units.
Summary
- On August 16, 2024, Nicholas Tzitzon, Chief Strategy & Corporate Affairs Officer of ServiceNow, reported transactions involving the company's common stock and restricted stock units (RSUs).
- These transactions included the acquisition of common stock through the vesting of RSUs and the disposition of shares to cover tax withholding obligations.
- Specifically, Tzitzon acquired 1,738 shares and 129 shares and 166 shares of common stock upon the vesting of performance-based and time-based RSUs.
- He also disposed of 841 shares and 63 shares and 81 shares of common stock to satisfy tax obligations at a price of $827.56 per share.
- Following these transactions, Tzitzon directly owns 5,506 shares of common stock and 8,167 restricted stock units.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing reflecting standard compensation practices. It doesn't inherently indicate positive or negative sentiment about the company's prospects.
Industry Context
Form 4 filings are a routine part of the US stock market, providing transparency into the transactions of company insiders. Investors often monitor these filings to gain insights into management's perspective on the company's stock.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they involve the vesting of previously granted equity and the sale of shares to cover tax obligations.
Key Dates
| Date | Description |
|---|---|
| February 15, 2023 | Date of grant for performance-based restricted stock units under the Issuer's 2021 Equity Incentive Plan. |
| January 1, 2023 | Start of the performance period for the restricted stock units. |
| December 31, 2023 | End of the performance period for the restricted stock units. |
| January 22, 2024 | Date the Issuer's Compensation Committee determined achievement of the applicable performance criteria. |
| February 17, 2024 | First vesting date (30%) for the performance-based restricted stock units. |
| August 16, 2024 | Date of the reported transactions involving common stock and restricted stock units. |
| August 17, 2024 | Second vesting date (15%) for the performance-based restricted stock units. |
| February 17, 2025 | Third vesting date (15%) for the performance-based restricted stock units. |
| August 17, 2025 | Fourth vesting date (20%) for the performance-based restricted stock units. |
| December 31, 2025 | End of the period for the Issuer's 3-year relative total stockholder return performance against the S&P 500 index. |
| February 17, 2026 | Final vesting date (20%) for the performance-based restricted stock units, subject to adjustment based on the Issuer's 3-year relative total stockholder return performance. |
| August 20, 2024 | Date of signature for the report. |
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