Form 4: Zuora Director Timothy Haley Reports Acquisition of Restricted Stock Units

Director Timothy Haley reports the acquisition of 19,230 restricted stock units (RSUs) in Zuora Inc. following the company's annual meeting.

Summary

• On June 27, 2024, Timothy M. Haley, a director of Zuora Inc., acquired 19,230 shares of Class A Common Stock in the form of restricted stock units (RSUs).
• These RSUs were automatically granted at Zuora's Annual Meeting of Stockholders.
• The RSUs will fully vest and convert into shares of Zuora's Class A Common Stock on the earlier of (a) the date of Zuora's 2025 Annual Meeting of Stockholders and (b) the date that is one year following the RSU grant date, subject to continuous service through the vesting date.
• Following the transaction, Haley directly owns 78,975 shares of Class A Common Stock.
• Haley also indirectly owns 34,246 shares through Haley-McGourty Partners and 156,793 shares through the Haley-McGourty Family Trust U/D/T 9/27/96.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. The RSU grant is a standard practice and indicates confidence from a director in the company's future. There are no negative aspects presented in the filing.

Positives

• The acquisition of RSUs by a director signals confidence in the company's future performance.
• The vesting schedule incentivizes continued service and alignment with shareholder interests.

Future Outlook

The RSUs will vest and convert into Class A Common Stock on the earlier of Zuora's 2025 Annual Meeting or one year from the grant date, contingent upon continuous service.

Industry Context

Form 4 filings are routine disclosures for corporate insiders and provide transparency into their transactions in the company's stock. This filing indicates a standard grant of RSUs to a director, which is a common practice in publicly traded companies.

Comparison to Industry Standards

• RSU grants to directors are a common form of compensation in publicly traded companies, aligning their interests with shareholders.
• The vesting schedule of one year or until the next annual meeting is a typical arrangement.

Stakeholder Impact

• The RSU grant aligns the director's interests with those of the shareholders, incentivizing value creation.

Key Dates