Form 4: Zuora Inc. CLO Andrew M. Cohen Sells Shares to Cover Tax Obligations

Andrew M. Cohen, CLO and Corp. Secretary of Zuora Inc., sold 16,513 shares of Class A Common Stock on July 3, 2024, to cover tax liabilities related to the vesting of restricted stock units.

Summary

• On July 3, 2024, Andrew M. Cohen, the CLO and Corp. Secretary of Zuora Inc., sold 16,513 shares of Class A Common Stock.
• The sale was executed to satisfy tax liabilities associated with the vesting of restricted stock units under Zuora's 2018 Equity Incentive Plan.
• The shares were sold at a weighted average price of $9.6364.
• The sales occurred in multiple transactions with prices ranging from $9.41 to $9.89.
• Following the reported transaction, Cohen beneficially owns 152,501 shares of Zuora Inc.
• The sale was part of an aggregated sale to cover tax liabilities for all participants in the 2018 Equity Incentive Plan over a three-day period ending on July 3, 2024.

Sentiment

Score: 6

Explanation: The document is a standard SEC Form 4 filing, indicating a routine transaction. The sentiment is neutral as it reflects a common practice of selling shares to cover tax obligations.

Industry Context

Sales of shares by company executives to cover tax obligations are a common practice and generally don't indicate a negative outlook for the company.

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.

Key Dates