Form 4: Tenable Director Transfers Shares to Revocable Trust

A Tenable Holdings, Inc. director transferred 4,622 shares of common stock to a revocable trust without consideration.

Summary

• A. Brooke Seawell, a Director of Tenable Holdings, Inc. (TENB), reported a change in beneficial ownership.
• On July 17, 2025, 4,622 shares of Common Stock were transferred from Mr. Seawell to The Rosemary and A. Brooke Seawell Revocable Trust (Administrative Trust).
• This transfer was made without consideration, meaning no cash or other assets were exchanged for the shares, despite a reported price of $30.12.
• Following this transaction, Mr. Seawell directly owns 15,000 shares.
• He also indirectly beneficially owns 9,230 shares through The Rosemary and A. Brooke Seawell Revocable Trust (Administrative Trust) and 15,000 shares through the Alexander Brooke Seawell Revocable Trust, where he serves as trustee for both.

Sentiment

Score: 5

Explanation: The transfer of shares by a director to a revocable trust without consideration is a neutral event, primarily related to estate planning rather than a change in investment conviction or company performance. The director retains beneficial ownership and control as trustee.

Positives

• The director maintains beneficial ownership and control over the transferred shares as the trustee of the receiving trusts, indicating continued alignment with shareholder interests.
• The transaction was a transfer without consideration, not a market sale, which typically avoids negative market perception associated with insider selling.

Negatives

• The direct ownership of shares by the reporting person decreased by 4,622 shares, although beneficial ownership is retained through trusts.

Future Outlook

The filing does not contain any forward-looking statements or guidance regarding the company's future performance or strategic direction.

Industry Context

This filing details an individual insider transaction related to estate planning, which is a common practice among corporate executives and directors. It does not provide insights into broader industry trends or competitive dynamics for Tenable Holdings, Inc.

Related Party Transactions

• Transfer of 4,622 shares to The Rosemary and A. Brooke Seawell Revocable Trust (Administrative Trust), where the reporting person is the trustee.

Stakeholder Impact

• Shareholders: Minimal direct impact as the director retains beneficial ownership and control over the shares through the trusts. This is not a market sale that would increase the float or put downward pressure on the stock price.
• Employees, Customers, Suppliers, Creditors: No direct impact on these stakeholders as the transaction is an internal beneficial ownership change.

Key Dates

Recommendation

The filing details an internal transfer of shares by a director to a revocable trust for estate planning purposes, not a market sale. The director retains beneficial ownership and control as trustee. This event is neutral and does not provide new information warranting a change in investment recommendation for Tenable Holdings, Inc.

Keywords

Tenable Holdings, TENB, Form 4, insider transaction, beneficial ownership, director, stock transfer, revocable trust, estate planning