Form 4: McDermott William R reports multiple insider transactions in NOW
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
McDermott William R reported multiple insider transaction types in a Form 4 filing for NOW. The filing lists transactions totaling 7,505 shares at a weighted average price of $103.29 per share. Following the reported transactions, holdings were 72,375 shares.
Positive
- None.
Negative
- None.
Insider Trade Summary
3,005 shares exercised/converted
Mixed
4 txns
Insider
McDermott William R
Role
Chairman & CEO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 3,005 | $0.00 | -- |
| Exercise | Common Stock | 3,005 | $0.00 | -- |
| Tax Withholding | Common Stock | 1,495 | $103.29 | $154K |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Units — 0 shares (Direct);
Common Stock — 72,375 shares (Direct);
Common Stock — 24,405 shares (Indirect, by Trust)
Footnotes (1)
- Represents shares relinquished by the Reporting Person in exchange for the Issuer's payment of federal and state tax withholding obligations of the Reporting Person resulting from the vesting of RSUs, in accordance with Rule 16b-3. Each restricted stock unit represents a contingent right to receive one share of Issuer's common stock. The restricted stock units vested as to 1/16th of the total shares quarterly, with the first vesting having occurred on May 12, 2022.
FAQ
What insider transaction did ServiceNow (NOW) CEO William McDermott report?
William McDermott reported the vesting of 3,005 restricted stock units, which converted into 3,005 shares of ServiceNow common stock at an exercise price of $0. These transactions reflect scheduled equity compensation rather than discretionary market purchases or sales.
Were William McDermott’s ServiceNow (NOW) transactions open-market buys or sells?
The filing shows no open-market buys or sells. Shares were acquired through RSU conversion at $0 and 1,495 shares were relinquished back to the issuer to satisfy tax withholding obligations, categorized as a tax-withholding disposition rather than a standard market sale.
What do William McDermott’s ServiceNow (NOW) RSUs represent?
Each restricted stock unit represents a contingent right to receive one share of ServiceNow common stock. The RSUs in this grant vest in 1/16th increments on a quarterly schedule, with the first vesting date having occurred on May 12, 2022.
How are William McDermott’s ServiceNow (NOW) RSUs vesting over time?
The restricted stock units vest as to 1/16th of the total shares on a quarterly basis. According to the disclosure, the first vesting occurred on May 12, 2022, and subsequent quarterly vesting events continue to release additional shares on that schedule.