Form 4: Zuora Executive Andrew M. Cohen Reports Sale of Shares to Cover Tax Obligations

Andrew M. Cohen, CLO and Corp. Secretary of Zuora, Inc., sold 20,773 shares of Class A Common Stock on October 3, 2024, to cover tax liabilities related to vested restricted stock units.

Summary

• On October 3, 2024, Andrew M. Cohen, the CLO and Corp. Secretary of Zuora, Inc., reported the sale of 20,773 shares of Class A Common Stock.
• The shares were sold at a weighted average price of $8.3436 per share.
• The sale was executed to satisfy tax liabilities associated with the vesting of restricted stock units under Zuora's 2018 Equity Incentive Plan.
• Following the transaction, Cohen directly owns 172,033 shares of Zuora's Class A Common Stock.
• The shares were sold over a three-day period ending on October 3, 2024, with prices ranging from $8.235 to $8.52.

Sentiment

Score: 5

Explanation: The document reports a routine transaction (sale of shares for tax purposes) by a company executive, which is neither particularly positive nor negative.

Industry Context

Sales of shares by company executives to cover tax obligations are a common occurrence, particularly after the vesting of stock options or restricted stock units. This is a normal part of executive compensation and financial planning.

Stakeholder Impact

• The sale of shares by an executive could have a minor, temporary impact on the stock price, but is unlikely to have a significant long-term effect on shareholders.
• The transaction does not directly impact employees, customers, suppliers, or creditors.

Key Dates