Form 4: Director Katie Rooney Reports Transaction of Smartsheet Restricted Stock Units

Director Katie Rooney reports the cancellation and conversion of restricted stock units (RSUs) into cash following a merger agreement.

Summary

• Katie Rooney, a director at Smartsheet Inc., reported a transaction involving restricted stock units (RSUs).
• The transaction occurred on January 22, 2025.
• A total of 7,981 RSUs were cancelled and converted to cash as part of a merger agreement.
• An additional 1,216 RSUs were also cancelled and converted to cash.
• The RSUs were converted into cash based on the merger consideration.
• Vested RSUs were converted into cash immediately.
• Unvested RSUs were converted into the right to receive cash, which will vest on the same schedule as the original RSUs.

Sentiment

Score: 7

Explanation: The document is a routine filing related to a merger, which is a positive event for shareholders. The sentiment is neutral to slightly positive as it reflects the completion of a corporate action.

Industry Context

This filing is a standard SEC Form 4, which is required when company insiders, such as directors, make transactions in the company's securities. The conversion of RSUs to cash is a result of a merger agreement, which is a significant corporate event.

Comparison to Industry Standards

• Form 4 filings are a common occurrence for publicly traded companies, especially after a merger or acquisition.
• The conversion of RSUs to cash is a typical outcome of a merger, ensuring that equity holders receive value for their holdings.
• The vesting schedules described are standard for RSU grants, often tied to service periods or specific dates.

Stakeholder Impact

• Shareholders will receive cash for their vested and unvested RSUs as a result of the merger.
• Employees holding unvested RSUs will have their vesting schedules continue as per the original terms.

Key Dates

Keywords

RSU, Restricted Stock Units, Merger, Director, Smartsheet, Transaction, Vesting, Cash Conversion