Form 4: Verisign Executive Thomas C. Indelicarto Reports Stock Disposals for Tax Obligations

Thomas C. Indelicarto, EVP, Gen Counsel & Secretary of Verisign Inc, reports disposing of common stock to cover tax liabilities related to vesting restricted stock units.

Summary

• On August 15, 2024, Thomas C. Indelicarto, an executive at Verisign Inc, disposed of shares of common stock to cover tax obligations.
• The disposals were exempt under Rule 16b-3, involving the delivery or withholding of securities incident to the vesting of restricted stock units.
• A total of 128, 158, and 211 shares were disposed of at a price of $177.77 per share.
• Following these transactions, Indelicarto directly owns 37,277 shares of Verisign Inc.
• The transactions were reported on August 16, 2024.

Sentiment

Score: 6

Explanation: The document reflects a routine transaction related to executive compensation and tax obligations, with no indication of significant positive or negative sentiment.

Industry Context

Executive stock transactions are a common occurrence in publicly traded companies, often related to compensation and tax planning. These transactions are closely monitored by investors for insights into executive sentiment and potential impact on stock supply.

Comparison to Industry Standards

• Executive compensation practices, including the use of restricted stock units and subsequent tax-related stock disposals, are standard across publicly listed companies.
• Companies like GoDaddy (GDDY) and Neustar (acquired by TransUnion) also have similar executive compensation structures that result in periodic Form 4 filings related to tax obligations.
• The disposal of shares to cover tax liabilities is a routine financial planning activity and doesn't necessarily indicate a change in the executive's long-term outlook for the company.

Stakeholder Impact

• The stock disposal may have a minor impact on shareholders due to the increased supply of shares, but the effect is likely minimal given the relatively small number of shares involved.

Key Dates