Better Home COO trust sells 2,455 shares
Better Home & Finance Holding Co executive Chad M. Smith reported several equity transactions involving Class A Common Stock.
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Form Type
4
Rhea-AI Filing Summary
Better Home & Finance Holding Co executive Chad M. Smith reported several equity transactions involving Class A Common Stock. A trust associated with Smith sold 2,455 shares in open-market transactions at weighted-average prices between about $29.16 and $31.61 per share.
Separately, 5,000 Restricted Stock Units converted into an equal number of shares, with 2,545 shares withheld to cover tax obligations and the remainder retained as direct holdings. After these events, Smith continued to hold shares both directly and indirectly through the trust.
Insider Trade Summary 10b5-1
Exercise and sale activity reported; no spread calculated
Exercise and Sale
6 txns
Insider
Smith Chad M.
Role
Pres & COO, Better Mortgage
Sold
2,455 shs ($74K)
Approx. gross sale proceeds
$74K
Approx. exercise cost
$0.00
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Class A Common Stock | 1,366 | $29.8138 | $41K |
| Sale | Class A Common Stock | 971 | $30.51 | $30K |
| Sale | Class A Common Stock | 118 | $31.384 | $4K |
| Exercise | Class A Common Stock | 5,000 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Class A Common Stock | 2,545 | $42.69 | $109K |
| Exercise | Restricted Stock Units (Class A) | 5,000 | $0.00 | $0.00 |
Holdings After Transaction:
Restricted Stock Units (Class A) — 40,000 contracts (Direct);
Class A Common Stock — 2,455 shares (Direct);
Class A Common Stock — 21,061 shares (Indirect, By Trust)
Footnotes (6)
- F1. The shares of Class A Common Stock held by the reporting person prior to the transaction reported herein reflect a transfer of 4,941 shares previously reported as directly held by the reporting person to the reporting person's Trust, which transfer of shares to the Trust was a change in form of ownership in accordance Rule 16a-13.
- F2. The price reported in Column 4 is a weighted average price for shares purchased in multiple transactions. The purchase prices range from $29.16 to $30.14 per share. The reporting person has provided to the issuer, and undertakes to provide to the staff of the Securities and Exchange Commission or any security holder of the issuer, upon request, full information regarding the number of shares purchased at each separate price within the range.
- F3. The price reported in Column 4 is a weighted average price for shares purchased in multiple transactions. The purchase prices range from $30.15 to $31.09 per share. The reporting person has provided to the issuer, and undertakes to provide to the staff of the Securities and Exchange Commission or any security holder of the issuer, upon request, full information regarding the number of shares purchased at each separate price within the range.
- F4. The price reported in Column 4 is a weighted average price for shares purchased in multiple transactions. The purchase prices range from $31.11 to $31.61 per share. The reporting person has provided to the issuer, and undertakes to provide to the staff of the Securities and Exchange Commission or any security holder of the issuer, upon request, full information regarding the number of shares purchased at each separate price within the range.
- F5. Each Restricted Stock Unit (RSU) represents a contingent right to receive one share of the Issuer's Class A Common Stock.
- F6. The RSUs were granted on May 8, 2024. 25% of the RSUs will vest, subject to the Reporting Person's continued employment, on the 12-month anniversary of the grant date, and the remaining balance of the RSUs will vest in equal quarterly installments over the following 36 months, subject to the Reporting Person's continued employment on each such scheduled vesting date.
Key Figures
Open-market shares sold: 2,455 shares
Sale price range (lower band): $29.16/share
Sale price range (upper band): $31.61/share
+4 more
7 metrics
Open-market shares sold
2,455 shares
Class A Common Stock sold indirectly via trust
Sale price range (lower band)
$29.16/share
Weighted-average sale range from one transaction footnote
Sale price range (upper band)
$31.61/share
Weighted-average sale range from another transaction footnote
RSUs converted
5,000 units
Restricted Stock Units converting into Class A Common Stock
Shares withheld for taxes
2,545 shares
Tax-withholding disposition at $42.69 per share
Direct shares after tax event
2,455 shares
Class A Common Stock directly held after withholding
Indirect shares after one sale
21,061 shares
Class A Common Stock held by trust after a reported sale
Key Terms
Restricted Stock Unit (RSU), Rule 16a-13, tax-withholding disposition, open-market sale, +1 more
5 terms
Restricted Stock Unit (RSU) financial
"Each Restricted Stock Unit (RSU) represents a contingent right to receive one share"
A restricted stock unit (RSU) is a promise from a company to give an employee company shares (or cash equal to their value) at a future date if certain conditions are met, such as staying with the company or hitting performance targets. For investors, RSUs matter because when they convert into actual shares they increase the number of shares available and can create selling pressure as employees cash out—think of them as a future paycheck paid in company stock.
Rule 16a-13 regulatory
"transfer of shares to the Trust was a change in form of ownership in accordance Rule 16a-13"
tax-withholding disposition financial
"Payment of exercise price or tax liability by delivering securities"
A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.
open-market sale financial
"Sale in open market or private transaction"
An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.
Weighted average price financial
"The price reported in Column 4 is a weighted average price for shares purchased in multiple transactions."
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transactions did BETR executive Chad M. Smith report?
Chad M. Smith reported trust-related open-market sales of 2,455 Class A shares and the conversion of 5,000 Restricted Stock Units into shares, with part of the resulting stock withheld to satisfy tax obligations and the balance added to his direct equity holdings.
What happened to Chad M. Smith’s BETR Restricted Stock Units?
Smith exercised 5,000 Restricted Stock Units, each representing one Class A share. These RSUs were part of a grant vesting over several years, and their conversion increased his share count before a portion of the resulting stock was used to cover tax liabilities.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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