Form 4: ZoomInfo CFO Michael O'Brien Reports Stock Transactions
SEC Form 4 Filing
ZoomInfo's CFO, Michael O'Brien, reported the vesting of restricted stock units and subsequent tax withholding on October 1, 2024, resulting in changes to his beneficial ownership of company stock.
Summary
- On October 1, 2024, Michael O'Brien, the CFO of ZoomInfo Technologies Inc., reported transactions involving restricted stock units (RSUs).
- These transactions included the vesting of RSUs granted on December 30, 2022, October 25, 2023, and March 23, 2023.
- A total of 1,555, 3,057, and 223 RSUs vested from the respective grants.
- Following the vesting, shares were withheld to cover O'Brien's tax liability, with 1,611 shares withheld at a price of $10.32.
- After these transactions, O'Brien's direct ownership includes 25,555 shares of common stock, 13,993 RSUs from the December 2022 grant, 9,174 RSUs from the October 2023 grant, and 2,233 RSUs from the March 2023 grant.
Sentiment
Score: 5
Explanation: This is a routine filing related to executive compensation and doesn't inherently indicate positive or negative sentiment.
Industry Context
Form 4 filings are standard practice for reporting insider transactions and are common across publicly traded companies.
Comparison to Industry Standards
- Stock-based compensation is a common practice in the tech industry to attract and retain talent.
- Vesting schedules for restricted stock units typically range from 3 to 4 years, aligning with ZoomInfo's vesting terms.
- Companies like Salesforce, Oracle, and Adobe also utilize RSUs as part of their compensation packages for executives.
Stakeholder Impact
- The transactions have a minor dilutive effect on existing shareholders due to the issuance of new shares upon RSU vesting.
- The tax withholding benefits the government through tax revenue.
Key Dates
| Date | Description |
|---|---|
| 2022-12-30 | Original grant date of restricted stock units that vest in equal quarterly installments during the 27 months following October 1, 2024. |
| 2023-03-23 | Original grant date of restricted stock units that vest in equal quarterly installments during the 30 months following October 1, 2024. |
| 2023-10-25 | Original grant date of restricted stock units that vest in equal quarterly installments during the 36 months following October 1, 2024. |
| 2024-10-01 | Date of transaction: vesting of restricted stock units and tax withholding. |
| 2024-10-03 | Date of signature on the Form 4 filing. |
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