Form 4: SmartSheet CFO Pete Godbole Executes Stock Transactions Following RSU Vesting

SmartSheet's CFO, Pete Godbole, acquired and disposed of Class A Common Stock and Restricted Stock Units (RSUs) following the vesting of his RSUs.

Summary

• Pete Godbole, CFO and Treasurer of SmartSheet Inc., engaged in multiple transactions involving Class A Common Stock and Restricted Stock Units (RSUs) on November 18, 2024.
• These transactions included the acquisition of 1,763, 6,973, and 23,052 shares of Class A Common Stock through the vesting of RSUs.
• Additionally, 16,111 shares of Class A Common Stock were disposed of to cover income tax obligations related to the RSU vesting at a price of $55.86 per share.
• The transactions resulted in a net increase in Mr. Godbole's direct holdings of Class A Common Stock to 52,491 shares.
• The vesting of RSUs also increased his holdings of derivative securities, specifically RSUs, to 8,813, 27,893, and 46,107 respectively.

Sentiment

Score: 7

Explanation: The document reflects routine transactions related to executive compensation, which is generally neutral to positive. The vesting of RSUs is a positive sign of continued service and performance.

Positives

• The vesting of RSUs indicates that Mr. Godbole has met the performance and service requirements for these awards.
• The increase in direct holdings of Class A Common Stock demonstrates Mr. Godbole's continued investment in the company.

Negatives

• The disposal of 16,111 shares to cover tax obligations resulted in a reduction of Mr. Godbole's holdings, although this is a standard practice.

Risks

• There are no specific risks highlighted in this document, as it primarily details routine transactions related to executive compensation.

Industry Context

This is a standard SEC Form 4 filing, which is common for executives who receive stock-based compensation. The transactions are typical for executives at publicly traded companies.

Comparison to Industry Standards

• The vesting schedules and tax withholding practices are consistent with standard practices for executive compensation in the tech industry.
• Many companies use RSUs as a form of long-term incentive for their executives, with vesting schedules tied to service and performance.
• The tax withholding process is a common practice to ensure compliance with tax regulations.

Stakeholder Impact

• The transactions have a minor impact on shareholders, as they are related to executive compensation and do not significantly alter the company's financial position.
• The transactions are not expected to have a direct impact on employees, customers, suppliers, or creditors.

Key Dates

Keywords

SmartSheet, Pete Godbole, CFO, Restricted Stock Units, RSU, Class A Common Stock, Stock Transactions, Insider Trading, SEC Form 4, Vesting