Chegg (NYSE: CHGG) CEO reports 8,293 shares withheld to cover taxes
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
CHEGG, INC President, CEO and Executive Chairman Daniel Rosensweig reported routine equity updates involving tax withholding and prior-period adjustments. On June 12, 2026, a total of 8,293 shares of common stock were automatically withheld and cancelled at $1.11 per share to cover federal and state tax obligations tied to the vesting and settlement of performance stock units and restricted stock units, rather than sold in the market.
The filing also corrects the executive’s historical beneficial ownership by 24,000 shares, reflecting 16,000 shares acquired under Chegg’s Employee Stock Purchase Plan during two 2025 purchase periods and 8,000 shares acquired under the plan on May 15, 2026, with no current transaction in those shares. Following these changes, Rosensweig reports 7,633,778 common shares held directly, plus indirect holdings of 24,842 and 25,000 shares in family trusts where he serves as co‑trustee.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 8,293 shares ($9,205)
Net Sell
5 txns
Insider
ROSENSWEIG DANIEL
Role
PRESIDENT, CEO, EXEC CHAIRMAN
Sold
8,293 shs ($9K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 1,956 | $1.11 | $2K |
| Sale | Common Stock | 6,337 | $1.11 | $7K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 7,640,115 shares (Direct, null);
Common Stock — 25,000 shares (Indirect, See footnote.)
Footnotes (1)
- The shares reported in Column 5 include an adjustment of 24,000 shares to correct the reporting person's beneficial ownership. The adjustment reflects (i) 16,000 shares acquired under the Issuer's Employee Stock Purchase Plan during two purchase periods in 2025 that were inadvertently omitted from prior beneficial ownership calculations identified during historical records review, (ii) 8,000 shares acquired under the Issuer's Employee Stock Purchase Plan on May 15, 2026. No current transaction is being reported with respect to these shares, and the adjustment is being made solely to reflect the reporting person's accurate beneficial ownership. Exempt transaction pursuant to Section 16b-3(e) payment of exercise price or tax liability by delivering or withholding securities incident to the receipt, exercise or vesting of a security issued in accordance with Rule 16b-3. All of the shares reported as disposed of in this Form 4 were automatically withheld by the Issuer in accordance with the agreement governing the performance stock units ("PSUs") to satisfy federal and state tax withholding obligations of the Reporting Person resulting from the vesting and settlement of the PSUs. The Reporting Person did not sell any of the shares reported on this Form 4 item; such shares were cancelled by the Issuer in accordance with the foregoing. Exempt transaction pursuant to Section 16b-3(e) payment of exercise price or tax liability by delivering or withholding securities incident to the receipt, exercise or vesting of a security issued in accordance with Rule 16b-3. All of the shares reported as disposed of in this Form 4 were automatically withheld by the Issuer in accordance with the agreement governing the restricted stock units ("RSUs") to satisfy federal and state tax withholding obligations of the Reporting Person resulting from the vesting and settlement of RSUs. The Reporting Person did not sell any of the shares reported on this Form 4 item; such shares were cancelled by the Issuer in accordance with the foregoing. Held by The Rosensweig Family Revocable Trust U/A/D 03-12-07 where the Reporting Person is a Co-Trustee. Held by The Rosensweig 2012 Irrevocable Children's Trust U/A/D 11-06-12. The Reporting Person is a Co-Trustee.
Key Figures
Shares withheld for taxes: 8,293 shares
Withholding price: $1.11 per share
Direct holdings after update: 7,633,778 shares
+3 more
6 metrics
Shares withheld for taxes
8,293 shares
Automatically withheld and cancelled to satisfy tax obligations on vested PSUs and RSUs
Withholding price
$1.11 per share
Value used for 8,293 shares withheld to cover federal and state taxes
Direct holdings after update
7,633,778 shares
Chegg common stock directly held by Daniel Rosensweig after reported transactions
Beneficial ownership adjustment
24,000 shares
ESPP shares from 2025 periods and May 15, 2026 correcting prior beneficial ownership
First family trust holdings
24,842 shares
Common stock held by The Rosensweig Family Revocable Trust where he is co‑trustee
Second family trust holdings
25,000 shares
Common stock held by The Rosensweig 2012 Irrevocable Children's Trust where he is co‑trustee
Key Terms
Employee Stock Purchase Plan, performance stock units, restricted stock units, Section 16b-3(e), +1 more
5 terms
Employee Stock Purchase Plan financial
"shares acquired under the Issuer's Employee Stock Purchase Plan during two purchase periods in 2025"
An employee stock purchase plan is a company program that lets workers buy shares through small payroll deductions, often at a discount to the market price and after a set offering period. Think of it like a workplace savings plan that turns into ownership: it encourages employees to share in the company’s success and can create predictable buying or selling of stock that investors watch because it affects supply, demand and employee incentives.
performance stock units financial
"performance stock units ("PSUs") to satisfy federal and state tax withholding obligations"
Performance stock units are a type of company award that grants employees shares of stock only if certain performance goals are met. They motivate employees to work toward specific company achievements, aligning their interests with those of shareholders. For investors, they can influence a company's future stock supply and reflect management’s confidence in reaching key targets.
restricted stock units financial
"restricted stock units ("RSUs") to satisfy federal and state tax withholding obligations"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
Section 16b-3(e) regulatory
"Exempt transaction pursuant to Section 16b-3(e) payment of exercise price or tax liability"
beneficial ownership financial
"omitted from prior beneficial ownership calculations identified during historical records review"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
FAQ
What insider activity did Chegg (CHGG) report for Daniel Rosensweig?
Chegg reported that CEO Daniel Rosensweig had 8,293 shares of common stock automatically withheld and cancelled at $1.11 per share to cover tax obligations from vested stock awards, plus a 24,000-share correction to earlier Employee Stock Purchase Plan ownership records.