[Form 4] N-able, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Michael I. Adler, EVP & CTPO of N-able, Inc. (NABL), reported a sale of company common stock related to vested restricted stock units. The Form 4 shows a transaction on 08/15/2025 where 6,102 shares were disposed at $7.64 per share. The filing explains these shares were withheld to satisfy tax withholding obligations in connection with RSU vesting. After the reported disposition, Mr. Adler beneficially owns 500,283 shares of N-able common stock, held directly.

Positive

• Continued substantial ownership: Reporting person still beneficially owns 500,283 shares after the transaction, indicating ongoing equity alignment with shareholders
• Clear disclosure of purpose: The filing explicitly states the shares were withheld for tax withholding in connection with RSU vesting, which clarifies the nature of the transaction

Negative

• None.

Insights

Corporate Governance Expert

Insider tax-withholding sale after RSU vesting; not an open-market trading signal on its own.

The reported disposition is explicitly described as shares withheld to cover tax obligations stemming from RSU vesting. This is a routine administrative transaction and does not indicate an open-market sale for liquidity or portfolio rebalancing. The post-transaction beneficial ownership remains substantive at 500,283 shares, suggesting continued alignment with shareholders. For governance review, this action aligns with typical executive compensation settlement practices and raises no immediate compliance concerns based on the disclosed facts.

Securities Analyst

Small block withheld for taxes; transaction size is minor relative to reported holdings.

The disposition of 6,102 shares at $7.64 per share represents a modest reduction versus the 500,283 shares owned after the transaction. The filing clearly states the purpose is tax withholding for RSU vesting rather than an open-market disposition. From a market-impact perspective, the transaction size is unlikely to be material to NABL's float. The disclosure is complete about the nature and amount of the transaction, allowing investors to distinguish routine compensation settlements from discretionary insider selling.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Adler Michael I

(Last) (First) (Middle)

30 CORPORATE DR., SUITE 400

(Street)

BURLINGTON MA 01803

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
N-able, Inc. [ NABL ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP, CTPO

3. Date of Earliest Transaction (Month/Day/Year)
08/15/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock, par value $0.001 per share	08/15/2025		F		6,102(1)	D	$7.64	500,283	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents shares withheld to satisfy tax withholding obligations in connection with the vesting of shares of restricted stock units.

Remarks:

	/s/ Kate Salley, Attorney-in-Fact for Michael Adler	08/19/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What transaction did Michael I. Adler report on Form 4 for NABL?

The Form 4 reports a disposition of 6,102 shares of N-able common stock on 08/15/2025 at a price of $7.64 per share.

Why were the 6,102 NABL shares disposed by the reporting person?

The filing states the shares were withheld to satisfy tax withholding obligations in connection with the vesting of restricted stock units.

How many NABL shares does Michael Adler beneficially own after this Form 4 transaction?

After the reported transaction, the Form 4 shows 500,283 shares beneficially owned, held directly.

What is Michael Adler's role at N-able as shown on the Form 4?

The Form 4 lists Michael I. Adler as an Officer with the title EVP, CTPO and also indicates he is a Director.

Does the Form 4 indicate this was an open-market sale?

No. The Form 4 specifies the shares were withheld for tax obligations related to RSU vesting, not an open-market sale.