4/A: Shift4 Payments CEO Jared Isaacman Settles Forward Sale Contracts, Amends Form 4 Filing
SEC Filing
Jared Isaacman, Chairman & CEO of Shift4 Payments, Inc., amended his Form 4 filing to report the settlement of previously executed variable prepaid forward transactions, involving the conversion and disposal of Class A and Class B Common Stock and LLC Interests.
Summary
- Jared Isaacman, Chairman & CEO of Shift4 Payments, amended a previous Form 4 filing from June 28, 2024, to reflect the settlement of variable prepaid forward transactions entered into on September 7, 2021.
- The transactions involved the conversion of Shift4 Payments, LLC Interests into Class A Common Stock and the cancellation of Class B Common Stock.
- From June 28, 2024, to September 9, 2024, Rook SPV settled transactions relating to 2,178,984 shares of Class A Common Stock, redeeming 1,978,981 shares of Class B Common Stock and LLC Interests.
- During the same period, Rook SPV settled another transaction relating to 2,259,247 shares of Class A Common Stock, redeeming 2,051,874 shares of Class B Common Stock and LLC Interests.
- Following these transactions, Rook SPV retained 200,003 and 207,373 shares of Class B Common Stock and LLC Interests, respectively, that were previously pledged to the Counterparty.
- The reporting person is amending the Form 4 originally filed on June 28, 2024, to report the settlement of the Transactions and reflect the actual number of non-derivative and derivative securities disposed of and/or converted in connection with the settlement of the Transactions, and the actual number of non-derivative and derivative securities beneficially owned following such Transactions.
Sentiment
Score: 5
Explanation: The document is a regulatory filing detailing stock transactions, and as such, carries a neutral sentiment.
Industry Context
This filing reflects standard reporting requirements for corporate insiders executing transactions involving company stock. It is common for executives to use forward sale contracts for various financial planning purposes.
Stakeholder Impact
- The settlement of forward sale contracts by a key executive could influence investor perception of the company's stock.
Key Dates
| Date | Description |
|---|---|
| 09/07/2021 | Date of original variable prepaid forward transactions. |
| 09/08/2021 | Date the original variable prepaid forward transactions were reported. |
| 06/28/2024 | Date of original Form 4 filing and start of settlement period. |
| 09/09/2024 | End date of the T-1 and T-2 Settlement Periods. |
| 09/10/2024 | Date of amended Form 4/A filing. |
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