4/A: Sprout Social CEO Justyn Howard Corrects Transaction Code in Amended SEC Filing
SEC Filing (Form 4/A)
Sprout Social's CEO, Justyn Russell Howard, files an amended Form 4 to correct the transaction code related to the disposal of Class A Common Stock.
Summary
- Justyn Russell Howard, CEO of Sprout Social, Inc., filed an amended Form 4 with the SEC on September 20, 2024, to correct a previously reported transaction.
- The amendment addresses the transaction code initially reported on a Form 4 filed on September 5, 2024.
- The corrected filing indicates the disposal of 8,595 shares of Class A Common Stock at a price of $29.27 on September 3, 2024.
- Following the reported transaction, Howard beneficially owns 302,217 shares of Class A Common Stock.
- This includes 7,384 restricted stock units (RSUs) vesting in equal quarterly installments beginning December 1, 2024.
- It also includes 36,924 RSUs vesting in 6 equal quarterly installments beginning December 1, 2024, and 71,105 RSUs vesting in 10 equal quarterly installments beginning December 1, 2024.
- Additionally, 118,724 RSUs will vest, with 25% vesting on March 1, 2025, and the remaining RSUs vesting in 12 equal quarterly installments beginning June 1, 2025.
- Each RSU represents the contingent right to receive one share of Class A Common Stock of the Issuer and does not expire.
Sentiment
Score: 5
Explanation: This is a neutral filing correcting a previous error. It doesn't inherently indicate positive or negative sentiment.
Future Outlook
The document outlines the vesting schedules for various restricted stock units (RSUs) held by the CEO, extending into 2025.
Industry Context
This is a routine SEC filing related to insider transactions. It's common for executives to have stock-based compensation and to periodically adjust their holdings.
Key Dates
| Date | Description |
|---|---|
| 09/03/2024 | Date of the transaction involving the disposal of Class A Common Stock. |
| 09/05/2024 | Date of the original Form 4 filing that is being amended. |
| 09/20/2024 | Date of the amended Form 4 filing. |
| 12/01/2024 | Start date for the vesting of multiple tranches of restricted stock units (RSUs). |
| 03/01/2025 | Date when 25% of a specific RSU tranche will vest. |
| 06/01/2025 | Start date for the vesting of the remaining portion of a specific RSU tranche. |
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