Form 4: Spire Global Director William Porteous Acquires Shares in Lieu of Cash Compensation

Director William Porteous acquired 1,578 shares of Spire Global, Inc. Class A Common Stock on January 2, 2025, in lieu of cash compensation.

Summary

• On January 2, 2025, William Porteous, a director of Spire Global, Inc., acquired 1,578 shares of Class A Common Stock at a price of $14.49 per share.
• This acquisition was made in lieu of $22,875 in cash compensation and the restricted stock units are fully vested.
• Following the transaction, Mr. Porteous directly owns 92,107 shares of Class A Common Stock.
• Mr. Porteous also has indirect ownership through RRE Ventures V, L.P. (596,181 shares) and RRE Leaders Fund, LP (248,071 shares), but disclaims beneficial ownership except to the extent of any pecuniary interest.
• RRE Ventures GP V, LLC and RRE Leaders GP, LLC have sole voting and dispositive power over the shares held by RRE Ventures V, L.P. and RRE Leaders Fund, LP, respectively.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a routine transaction. The director taking stock in lieu of cash is mildly positive.

Positives

• The acquisition of shares by a director demonstrates confidence in the company.
• The acceptance of shares in lieu of cash compensation could be seen as a positive sign for the company's cash flow.

Management Comments

• Mr. Porteous disclaims beneficial ownership of the reported securities, except to the extent of any pecuniary interest therein.

Industry Context

Directors receiving stock in lieu of compensation is a fairly common practice, particularly in growth-oriented companies, as it aligns their interests with those of shareholders and conserves cash.

Stakeholder Impact

• The transaction could have a slightly positive impact on shareholders as it aligns the director's interests with theirs.
• The acceptance of stock in lieu of cash compensation could be seen as a positive sign for the company's financial health.

Key Dates