Form 4: SolarWinds EVP Andrea Webb Reports Stock Transactions
SEC Form 4 Filing
Andrea Webb, EVP and Chief Customer Officer of SolarWinds, reports the withholding of shares to cover tax obligations related to vesting restricted stock units and performance stock units.
Summary
- On May 15, 2024, Andrea Webb, EVP and Chief Customer Officer of SolarWinds, reported transactions involving SolarWinds common stock.
- A total of 12,052 shares were withheld to satisfy tax obligations related to the vesting of restricted stock units at a price of $12.05 per share.
- Additionally, 13,794 shares were withheld to satisfy tax obligations related to the vesting of performance stock units at a price of $12.05 per share.
- Following these transactions, Webb directly owns 790,587 shares of SolarWinds common stock.
- The report also mentions an adjustment to restricted stock units and performance stock units due to a special cash dividend declared by SolarWinds on March 15, 2024, which resulted in each unit being converted into 1.0854 units.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing detailing stock transactions, and does not inherently convey positive or negative sentiment. It's a neutral reporting of facts.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It provides transparency into the transactions of company insiders.
Stakeholder Impact
- Shareholders are informed about executive stock transactions, providing transparency into insider activity.
Key Dates
| Date | Description |
|---|---|
| March 15, 2024 | SolarWinds Board of Directors declared a special cash dividend. |
| April 3, 2024 | Record date for the special cash dividend. |
| April 15, 2024 | Payment date for the special cash dividend. |
| May 15, 2024 | Date of stock transactions reported by Andrea Webb. |
| May 17, 2024 | Date of signature for the Form 4 filing. |
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