Form 4: Uber CEO Dara Khosrowshahi Exercises and Sells Restricted Stock Units
SEC Form 4
Uber CEO Dara Khosrowshahi reports the vesting and subsequent sale of restricted stock units (RSUs) to cover tax liabilities.
Summary
- On March 16, 2025, Dara Khosrowshahi, the CEO of Uber Technologies, Inc., exercised several tranches of restricted stock units (RSUs) that converted into common stock on a one-for-one basis.
- These RSUs were granted on various dates from March 1, 2021, to March 1, 2024, under Uber's 2019 Equity Incentive Plan.
- A total of 425,193, 18,899, 33,560, 35,432, and 30,413 RSUs vested.
- Following the vesting, shares were withheld to satisfy tax liabilities, with 217,062, 9,648, 18,089, 17,133, and 15,526 shares withheld at a price of $71.55.
- After these transactions, Khosrowshahi directly owns 1,432,153 shares of Uber common stock and holds 35,433, 67,120, and 56,695 restricted stock units.
Sentiment
Score: 5
Explanation: This is a routine transaction related to executive compensation and doesn't indicate a significant positive or negative sentiment.
Industry Context
Executive compensation and stock ownership are closely watched in the tech industry, particularly for companies like Uber. This filing provides transparency into the CEO's equity holdings and compensation structure.
Comparison to Industry Standards
- Executive compensation packages often include a mix of salary, stock options, and restricted stock units.
- The vesting schedules and terms of these grants are typically aligned with industry standards to incentivize long-term performance and retention.
- Companies like Lyft, DoorDash, and other tech firms have similar equity compensation plans for their executives.
Stakeholder Impact
- The transaction has a minor impact on shareholders as it involves the vesting of previously granted equity.
- Employees may be interested in the details of executive compensation as it relates to the company's overall performance and equity plans.
Key Dates
| Date | Description |
|---|---|
| March 1, 2021 | Grant date of 121,654 RSUs, vesting quarterly. |
| March 1, 2022 | Grant date of 141,731 RSUs, vesting quarterly. |
| March 1, 2022 | Grant date of 425,193 RSUs, vesting quarterly. |
| March 1, 2023 | Grant date of 134,240 RSUs, vesting quarterly. |
| March 1, 2024 | Grant date of 75,594 RSUs, vesting quarterly. |
| March 16, 2025 | Date of RSU vesting and share withholding for tax liability. |
| March 18, 2025 | Date of Form 4 filing. |
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