Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

Fiscalnote executive sells shares worth $667 to cover tax obligation

Published 04/09/2024, 04:15 PM
Updated 04/09/2024, 04:15 PM

FiscalNote Holdings, Inc. (NYSE:NOTE) Chief Accounting Officer Paul Donnell has sold a portion of his stock in the company, a recent filing with the Securities and Exchange Commission (SEC) revealed. The transaction, which took place on April 5, 2024, involved the sale of 500 shares of FiscalNote's Class A Common Stock at a price of $1.3349 per share, totaling approximately $667.

The sale was conducted to satisfy the tax obligation related to the vesting of 1,251 restricted stock units. It was executed as a sell-to-cover transaction, which is a common method for executives to handle tax liabilities that arise when vested shares become available to them. The move was part of a pre-planned trading arrangement under a Rule 10b5-1 trading plan, which Donnell had adopted on May 12, 2023.

Following the transaction, Donnell's ownership in the company stands at 26,366 shares of Class A Common Stock. This type of sale allows executives to sell a predetermined number of shares at a specified time, offering a way to manage stock sales without concerns of insider trading.

Investors often monitor such sales as they can provide insights into an executive's view of the company's stock value and financial health. However, sell-to-cover transactions are typically seen as routine and less indicative of an executive's confidence in the company's future prospects, as they are often planned in advance to manage tax obligations.

FiscalNote Holdings, Inc. specializes in providing business services and operates out of Washington, D.C. The company's stock is publicly traded, and these transactions are disclosed to the public in compliance with SEC regulations.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

InvestingPro Insights

Amid the recent news of FiscalNote Holdings, Inc. (NYSE:NOTE) Chief Accounting Officer Paul Donnell's stock sale, investors are keen on understanding the company's financial health and market performance. Insights from InvestingPro reveal several metrics that could be crucial for evaluating the company's current position:

  • The company's market capitalization stands at a modest $180.79 million, reflecting its size within the industry.
  • FiscalNote's revenue growth over the last twelve months as of Q4 2023 is reported at 16.6%, indicating a positive trend in the company's sales.
  • An impressive gross profit margin of 69.66% over the same period suggests the company's ability to retain a significant portion of its sales as gross profit.

However, not all indicators are positive. InvestingPro Tips highlight that FiscalNote operates with a significant debt burden and may have trouble making interest payments on its debt. This is a critical consideration for investors, as it may impact the company's financial flexibility and future growth potential. Additionally, the company is not expected to be profitable this year, which could affect investor sentiment.

For those seeking more comprehensive analysis, there are additional InvestingPro Tips available on the platform, which could provide deeper insights into FiscalNote's performance and outlook. With the use of coupon code PRONEWS24, investors can get an extra 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking further valuable information to guide their investment decisions.

It's important for investors to consider these data points and tips, especially in the context of the recent insider transaction, to form a well-rounded view of FiscalNote Holdings, Inc. For more detailed analyses and tips, visit InvestingPro at https://www.investing.com/pro/NOTE.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.