Form 4: Uber Executive Glen Ceremony Reports Stock Transactions
SEC Form 4
Uber's Chief Accounting Officer, Glen Ceremony, reported the acquisition of common stock through the vesting of restricted stock units and the subsequent withholding of shares for tax obligations on November 16, 2024.
Summary
- Glen Ceremony, Uber's Chief Accounting Officer, reported multiple transactions involving Uber common stock on November 16, 2024.
- These transactions include the acquisition of shares through the vesting of restricted stock units (RSUs) and the disposal of shares to cover tax liabilities.
- The vesting of RSUs resulted in the acquisition of 700, 1,516, 1,440, 722, and 579 shares of common stock.
- A total of 348, 714, 752, 358, and 288 shares were disposed of at a price of $73.25 per share to satisfy tax obligations.
- Following these transactions, Mr. Ceremony beneficially owns 204,341 shares of Uber common stock.
Sentiment
Score: 5
Explanation: The document is a routine SEC filing detailing stock transactions by an executive, which is neither positive nor negative for the company's performance. It is a neutral event.
Management Comments
- Glen Ceremony is the Chief Accounting Officer and Global Corporate Controller of Uber.
Industry Context
This is a routine SEC Form 4 filing, which is common for executives of publicly traded companies who receive stock-based compensation. It reflects the standard practice of vesting and tax withholding for equity awards.
Comparison to Industry Standards
- The vesting schedule of the restricted stock units is typical for tech companies, with monthly vesting after an initial cliff.
- The tax withholding process is also standard practice for equity compensation.
- Other companies such as Lyft, DoorDash, and similar tech firms have similar vesting schedules and tax withholding practices for their executives.
Stakeholder Impact
- The transactions have a minimal impact on shareholders as they are related to executive compensation and tax obligations.
Key Dates
| Date | Description |
|---|---|
| 03/01/2021 | Grant date of 27,806 restricted stock units (RSUs) with vesting starting April 16, 2021. |
| 05/10/2021 | Grant date of 34,650 restricted stock units (RSUs) with vesting starting July 16, 2021. |
| 03/01/2022 | Grant date of 69,137 restricted stock units (RSUs) with vesting starting April 16, 2022. |
| 03/01/2023 | Grant date of 72,759 restricted stock units (RSUs) with vesting starting April 16, 2023. |
| 03/01/2024 | Grant date of 33,597 restricted stock units (RSUs) with vesting starting April 16, 2024. |
| 11/16/2024 | Date of reported stock transactions, including RSU vesting and tax liability share disposals. |
| 11/19/2024 | Date of filing of the SEC Form 4. |
Keywords
Uber, stock, restricted stock units, RSU, insider trading, Glen Ceremony, Chief Accounting Officer, SEC Form 4, vesting, tax liability
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