MCHX Form 3: Feeney Discloses 277,428 Shares and 62,500 RSUs
Rhea-AI Filing Summary
Francis J. Feeney, Chief Operating Officer of Marchex, Inc. (MCHX), filed a Form 3 disclosing his initial beneficial ownership. The filing reports 277,428 shares of Class B common stock held directly and a portfolio of equity awards that could convert to additional shares.
The derivative holdings include employee stock options to purchase 848,000 shares with exercise prices ranging from $1.45 to $5.05 and expiration dates between 2028 and 2034, plus 62,500 restricted stock units that vest in full on the first anniversary of their March 20, 2025 grant. All reported holdings are direct and subject to specified vesting schedules tied to continued employment.
Positive
- Full disclosure of direct ownership (277,428 Class B shares) providing transparency about the COO's stake.
- Detailed listing of equity awards including exercise prices, expirations, and vesting schedules for 848,000 option shares and 62,500 RSUs.
- Vesting tied to continued employment is explicitly disclosed for each award, clarifying conditions for conversion to shares.
- Form is properly signed and references Exhibit 24 (Power of Attorney), indicating compliance with filing requirements.
Negative
- None.
Insights
TL;DR: Routine initial disclosure showing substantial option grants and RSUs alongside already owned shares.
The Form 3 documents Feeney's direct ownership of 277,428 Class B shares and significant outstanding option awards totaling 848,000 shares plus 62,500 RSUs. The option exercise prices and multi-year expirations are listed, indicating long-dated compensation instruments rather than immediate share sales or purchases. For investors, this is a standard insider disclosure of compensation-related equity rather than an operational update.
TL;DR: Standard officer filing that documents equity-based compensation and vesting conditions.
The filing clearly states vesting schedules and that awards are conditioned on continued full-time employment. The presence of multiple grant dates and staggered vesting is typical for executive retention plans. The disclosure includes an executed signature and an Exhibit 24 power of attorney reference, meeting filing formalities.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Employee Stock Option (right to buy) | -- | -- | -- |
| holding | Employee Stock Option (right to buy) | -- | -- | -- |
| holding | Employee Stock Option (right to buy) | -- | -- | -- |
| holding | Employee Stock Option (right to buy) | -- | -- | -- |
| holding | Employee Stock Option (right to buy) | -- | -- | -- |
| holding | Employee Stock Option (right to buy) | -- | -- | -- |
| holding | Employee Stock Option (right to buy) | -- | -- | -- |
| holding | Employee Stock Option (right to buy) | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class B Common Stock | -- | -- | -- |
Footnotes (1)
- Restricted stock award effective on the Grant Date, which was January 3, 2022, with 25% of such shares vesting on the first, second, third, and fourth annual anniversary of the Grant Date, subject to Feeney remaining a continuous and full-time active employee. Restricted stock award effective on the Grant Date, which was January 3, 2023, with 25% of such shares vesting on the first, second, third, and fourth annual anniversary of the Grant Date, subject to Feeney remaining a continuous and full-time active employee. Stock option award effective on the Grant Date, which was January 3, 2022, with 25% of such option shares vesting on the first annual anniversary of the Grant Date and 1/12 of the remainder vesting in equal increments quarterly thereafter over the following three (3) year period, subject to Feeney remaining a continuous and full-time active employee. Stock option award effective on the Grant Date, which was January 3, 2023, with 25% of such option shares vesting on the first annual anniversary of the Grant Date and 1/12 of the remainder vesting in equal increments quarterly thereafter over the following three (3) year period, subject to Feeney remaining a continuous and full-time active employee. Stock option award effective on the Grant Date, which was September 28, 2023, with 25% of such option shares vesting on the first annual anniversary of the Grant Date and 1/12 of the remainder vesting in equal increments quarterly thereafter over the following three (3) year period, subject to Feeney remaining a continuous and full-time active employee. Stock option award effective on the Grant Date, which was July 26, 2024, with 25% of such option shares vesting on the first annual anniversary of the Grant Date and 1/12 of the remainder vesting in equal increments quarterly thereafter over the following three (3) year period, subject to Feeney remaining a continuous and full-time active employee. Stock option award effective on the Grant Date, which was July 26, 2024, with such option shares vesting in full on the fourth annual anniversary of the Grant Date, subject to Feeney remaining a continuous and full-time active employee. Restricted stock units award effective on the Grant Date, which was March 20, 2025. Each restricted stock unit represents the right to receive one share of the Company's Class B Common Stock upon vesting, which occurs in full on the first anniversary of the Grant Date, subject to Feeney remaining a continuous and full-time active employee.
FAQ
What are the exercise prices and expiration range for Feeney's options?
Are Feeney's equity awards subject to vesting conditions?
What role does Francis J. Feeney hold at Marchex?
