Form 4: Tenable Holdings COO Mark Thurmond Reports Stock Transactions

Chief Operating Officer of Tenable Holdings, Mark Thurmond, reports the sale and acquisition of common stock and derivative securities to cover tax obligations and vesting of restricted stock units.

Summary

• Mark Thurmond, the Chief Operating Officer of Tenable Holdings, filed a Form 4 detailing changes in beneficial ownership.
• On February 23, 2024, Thurmond sold 1,684 shares of common stock at $47.67 per share to cover tax withholding obligations.
• On the same day, he acquired 1,362 shares and 3,857 shares of common stock through the vesting of performance restricted stock units (PRSUs) and restricted stock units (RSUs), respectively, at a price of $0.
• On February 26, 2024, Thurmond sold 7,110 shares of common stock at $47.72 per share to cover tax withholding obligations.
• Following these transactions, Thurmond directly owns 45,271 shares of common stock, 10,905 performance restricted stock units, and 30,856 restricted stock units.
• The vesting of PRSUs was based on the achievement of performance metrics for fiscal year 2022, with a 106% payout determined by the Compensation Committee.
• The remaining shares underlying the PRSUs and RSUs vest in equal quarterly installments over 3 years, subject to continuous service.

Sentiment

Score: 6

Explanation: The document primarily reflects routine transactions related to executive compensation. The vesting of PRSUs at 106% is a slightly positive signal, but the stock sales are for tax obligations and don't necessarily reflect a change in sentiment.

Positives

• The vesting of PRSUs indicates that the company achieved certain performance targets for fiscal year 2022, resulting in a 106% payout.

Future Outlook

The remaining shares underlying the PRSUs and RSUs vest in equal quarterly installments over 3 years, subject to continuous service.

Industry Context

Form 4 filings are a routine part of executive compensation and provide transparency into insider transactions, which are closely monitored by investors.

Stakeholder Impact

• Shareholders may be interested in the vesting of PRSUs as an indicator of company performance.
• The stock sales to cover tax obligations have a minimal impact on stakeholders.

Key Dates