Form 4: Uber Executive Glen Ceremony Reports Stock Transactions
SEC Form 4
Glen Ceremony, Chief Accounting Officer and Global Corporate Controller at Uber Technologies, Inc., reported the vesting of restricted stock units and subsequent tax withholding on February 16, 2025.
Summary
- Glen Ceremony, a key executive at Uber Technologies, Inc., filed a Form 4 detailing changes in beneficial ownership of company stock.
- On February 16, 2025, restricted stock units (RSUs) vested, converting into common stock.
- A portion of the shares were withheld to cover tax liabilities associated with the vesting of these RSUs.
- The transactions resulted in an increase in the number of common shares beneficially owned by Ceremony, followed by a decrease due to tax withholding.
- Ceremony now directly owns 215,682 shares of Uber common stock.
- The reported transactions involve RSUs granted on various dates from March 1, 2021, to March 1, 2024, with vesting schedules that occur monthly.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing related to executive compensation. It doesn't contain information that would significantly impact investor sentiment positively or negatively.
Industry Context
Form 4 filings are a routine part of executive compensation and provide transparency into insider transactions, which are closely monitored by investors.
Comparison to Industry Standards
- Equity compensation, including RSUs, is a common practice among publicly traded companies, especially in the tech industry, to incentivize and retain key employees.
- The vesting schedules and terms of Uber's RSU grants appear to be fairly standard compared to those of other large tech companies like Lyft, Google, and Meta.
- These companies also use a combination of time-based and performance-based vesting criteria for their equity grants.
Key Dates
| Date | Description |
|---|---|
| 03/01/2021 | Grant date of 27,806 restricted stock units (RSUs). |
| 04/16/2021 | First vesting date for RSUs granted on March 1, 2021; 1/48 of total RSUs vested. |
| 03/01/2022 | Grant date of 69,137 restricted stock units (RSUs). |
| 04/16/2022 | First vesting date for RSUs granted on March 1, 2022; 1/48 of total RSUs vested. |
| 03/01/2023 | Grant date of 72,759 restricted stock units (RSUs). |
| 04/16/2023 | First vesting date for RSUs granted on March 1, 2023; 1/48 of total RSUs vested. |
| 03/01/2024 | Grant date of 33,597 restricted stock units (RSUs). |
| 04/16/2024 | First vesting date for RSUs granted on March 1, 2024; 1/48 of total RSUs vested. |
| 02/16/2025 | Date of RSU vesting and tax withholding. |
| 02/19/2025 | Date of Form 4 filing. |
Keywords
Form 4, Beneficial Ownership, Restricted Stock Units, RSUs, Glen Ceremony, Uber, UBER, Stock Vesting, Tax Withholding, Equity Compensation
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