Form 4: Uber Technologies Executive Glen Ceremony Reports Stock Transactions
SEC Form 4
Glen Ceremony, Chief Accounting Officer and Global Corporate Controller at Uber Technologies, reports the vesting of restricted stock units and subsequent tax withholding on June 16, 2024.
Summary
- Glen Ceremony, an officer at Uber Technologies, reported transactions involving restricted stock units (RSUs) and common stock on June 16, 2024.
- The transactions involved the vesting of RSUs and the subsequent withholding of shares to cover tax liabilities.
- A total of 8,292 RSUs vested, converting into common stock on a one-for-one basis.
- Shares were withheld to satisfy tax obligations at a price of $70.06 per share.
- Following these transactions, Ceremony directly owns 190,174 shares of Uber common stock.
- Ceremony also holds derivative securities in the form of restricted stock units, with a total of 147,449 RSUs remaining after the reported transactions.
Sentiment
Score: 5
Explanation: This is a neutral report on stock transactions, with no inherent positive or negative sentiment.
Future Outlook
The reporting person will continue to vest in previously granted restricted stock units according to their respective vesting schedules.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common among publicly traded companies like Uber. It provides transparency to investors regarding the equity holdings of company insiders.
Comparison to Industry Standards
- Executive compensation packages including RSUs are standard practice among tech companies like Uber, Lyft, Google, and Meta.
- The vesting schedules and terms of these RSUs are generally aligned with industry norms to incentivize long-term performance and retention.
- The tax withholding process is also a standard procedure for equity compensation in publicly traded companies.
Stakeholder Impact
- The transactions have a minimal direct impact on shareholders, employees, customers, suppliers, or creditors.
- The filing provides transparency to shareholders regarding executive compensation and stock ownership.
Key Dates
| Date | Description |
|---|---|
| 03/01/2021 | Date of grant for 27,806 restricted stock units (RSUs) with vesting starting on April 16, 2021. |
| 05/10/2021 | Date of grant for 34,650 restricted stock units (RSUs) with vesting starting on July 16, 2021. |
| 03/01/2022 | Date of grant for 69,137 restricted stock units (RSUs) with vesting starting on April 16, 2022. |
| 03/01/2023 | Date of grant for 72,759 restricted stock units (RSUs) with vesting starting on April 16, 2023. |
| 10/30/2023 | Date of grant for 33,348 restricted stock units (RSUs) with vesting starting on December 16, 2023. |
| 03/01/2024 | Date of grant for 33,597 restricted stock units (RSUs) with vesting starting on April 16, 2024. |
| 06/16/2024 | Date of transactions involving vesting of RSUs and tax withholding. |
| 06/18/2024 | Date of signature for the Form 4 filing. |
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