Form 4: Vivid Seats CEO Stanley Chia Reports Changes in Beneficial Ownership
SEC Form 4
Vivid Seats CEO Stanley Chia reports the acquisition and disposal of Class A Common Stock and Restricted Stock Units, along with transfers to a family trust, according to a Form 4 filing.
Summary
- Stanley Chia, CEO of Vivid Seats Inc., filed a Form 4 detailing changes in his beneficial ownership of the company's securities.
- The transactions occurred on September 11, 2024.
- Chia acquired 26,397 and 43,585 shares of Class A Common Stock through the vesting of Restricted Stock Units (RSUs).
- He also transferred 697,348 shares of Class A Common Stock to a family trust but remains the beneficial owner.
- Chia also transferred various Restricted Stock Units and stock options to the family trust.
- The filing details the vesting schedules for various RSU and stock option awards, with vesting occurring in quarterly installments over several years.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing, so the sentiment is neutral.
Future Outlook
The document outlines the vesting schedules for RSUs and stock options, indicating future potential equity awards for the reporting person.
Industry Context
This filing is a routine disclosure required by the SEC for corporate insiders, providing transparency into their transactions in the company's securities.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies, ensuring transparency of insider transactions.
- The vesting schedules and option grants are typical components of executive compensation packages in the industry.
- Similar filings can be observed for executives at companies like Live Nation Entertainment (LYV) and Ticketmaster, reflecting common practices in executive compensation.
Related Party Transactions
- The reporting person transferred securities to a trust for the benefit of immediate family members, but remains the beneficial owner.
Stakeholder Impact
- The transactions may provide insights to shareholders regarding management's view on the company's stock.
Key Dates
| Date | Description |
|---|---|
| 03/11/2023 | One-third of certain RSUs vested and settled. |
| 01/19/2022 | RSUs began vesting in 16 equal quarterly installments. |
| 03/11/2024 | One-third of certain RSUs and stock options vested. |
| 09/11/2024 | Date of transactions reported in the Form 4. |
| 09/13/2024 | Date of signature on the Form 4. |
| 03/10/2033 | Expiration date for some stock options. |
| 10/19/2031 | Expiration date for some stock options. |
| 03/11/2025 | Full vesting date for some RSUs and stock options. |
| 05/12/2025 | One-third of certain RSUs will vest and settle. |
| 10/19/2025 | Full vesting date for some stock options. |
| 03/11/2026 | Full vesting date for some RSUs and stock options. |
| 05/12/2027 | Full vesting date for some RSUs. |
| 03/11/2027 | Full vesting date for some RSUs. |
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