Form 4: Wayfair's Chief Technology Officer, Fiona Tan, Reports Stock Transactions
SEC Form 4 Filing
Fiona Tan, Wayfair's Chief Technology Officer, reported the acquisition and disposal of Class A Common Stock and Restricted Stock Units (RSUs) on April 1st and 2nd, 2024, primarily to cover tax obligations related to RSU vesting.
Summary
- Fiona Tan, Chief Technology Officer of Wayfair Inc., filed a Form 4 detailing changes in beneficial ownership of Wayfair's Class A Common Stock and Restricted Stock Units (RSUs).
- On April 1, 2024, Tan acquired 1,792, 3,500, and 24,171 shares of Class A Common Stock through the vesting of RSUs.
- On April 2, 2024, Tan disposed of 3,268 shares at an average price of $62.85 and 2,047 shares at an average price of $63.39 to cover tax withholding obligations related to the vesting of RSUs.
- Following these transactions, Tan directly owns 51,095 shares of Class A Common Stock and indirectly owns 77,238 shares through a revocable trust.
- Tan also holds 16,939, 7,000 and 0 Restricted Stock Units after the transactions.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing related to executive compensation and stock transactions, with no inherent positive or negative sentiment.
Future Outlook
Future vesting of RSUs will occur quarterly, commencing July 1, 2024, July 1, 2025 and July 1, 2026.
Industry Context
Form 4 filings are a routine part of insider trading regulations, providing transparency into the transactions of company executives and directors.
Key Dates
| Date | Description |
|---|---|
| 2020-11-12 | Date of grant for 3,500 RSUs vesting on July 1, 2024 and October 1, 2024. |
| 2022-04-18 | Date of grant for RSUs vesting quarterly commencing July 1, 2024, July 1, 2025, and July 1, 2026. |
| 2024-03-21 | Date of grant for 24,171 RSUs vesting on April 1, 2024. |
| 2024-04-01 | Date of RSU vesting and stock acquisition. |
| 2024-04-02 | Date of stock disposal for tax obligations. |
| 2024-04-03 | Date of Form 4 filing. |
| 2024-07-01 | Commencement date for quarterly vesting of 5,602 shares. |
| 2024-07-01 | Vesting date for 3,500 shares. |
| 2024-10-01 | Vesting date for 3,500 shares. |
| 2025-07-01 | Commencement date for quarterly vesting of 6,542 shares. |
| 2026-07-01 | Commencement date for quarterly vesting of 4,795 shares. |
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