Verisign (VRSN) EVP has 82 shares withheld to cover RSU taxes
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Verisign EVP – Technology & CSO Danny R. McPherson reported a small, non-market share disposition related to taxes on vested restricted stock units. On this Form 4, 82.218 shares of common stock were withheld by the company at $272.96 per share to pay tax liabilities, a transaction exempt under Rule 16b-3.
After this tax-withholding event, McPherson directly holds 34,450.0214 shares of Verisign common stock. A footnote also notes 62.6610 dividend equivalent restricted stock units acquired on May 27, 2026 in connection with earlier RSU grants.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
McPherson Danny R
Role
EVP - Technology & CSO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Common Stock | 82.218 | $272.96 | $22K |
Holdings After Transaction:
Common Stock — 34,450.021 shares (Direct, null)
Footnotes (1)
- Disposition of shares exempt under Rule 16b-3 as payment of tax liability to Company by delivery or withholding securities incident to vesting of restricted stock units. Includes 62.6610 dividend equivalent restricted stock units acquired on May 27, 2026, in respect of previously granted restricted stock units under the Company's Amended and Restated 2006 Equity Incentive Plan.
Key Figures
Shares withheld for taxes: 82.218 shares
Withholding price per share: $272.96/share
Shares held after transaction: 34,450.0214 shares
+1 more
4 metrics
Shares withheld for taxes
82.218 shares
Tax-withholding disposition on common stock
Withholding price per share
$272.96/share
Price used for tax payment via share withholding
Shares held after transaction
34,450.0214 shares
Direct Verisign common stock holdings post-transaction
Dividend equivalent RSUs acquired
62.6610 units
Dividend equivalent RSUs credited on May 27, 2026
Key Terms
Rule 16b-3, restricted stock units, dividend equivalent restricted stock units, Equity Incentive Plan
4 terms
Rule 16b-3 regulatory
"Disposition of shares exempt under Rule 16b-3 as payment of tax liability"
Rule 16b-3 is a Securities and Exchange Commission regulation that exempts certain routine, pre-approved transactions by company insiders from automatic liability for short-term trading profits. It acts like a safe harbor: if an insider follows a formal plan or the board approves specific transactions in advance, profits from buying and selling company stock within six months are not automatically reclaimed. Investors care because the rule clarifies when insider trades are permissible and reduces uncertainty about potential clawbacks.
restricted stock units financial
"vesting of restricted stock units"
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.
dividend equivalent restricted stock units financial
"Includes 62.6610 dividend equivalent restricted stock units acquired on May 27, 2026"
Equity Incentive Plan financial
"under the Company's Amended and Restated 2006 Equity Incentive Plan"
An equity incentive plan is a program that gives employees, executives or directors the right to receive company stock or options to buy stock as part of their pay. Think of it as offering slices of future company profit to motivate people to boost long‑term performance; for investors it matters because it can align employee goals with shareholder value but also increases the number of shares outstanding, which can dilute existing ownership.
FAQ
What did Verisign (VRSN) executive Danny McPherson report on this Form 4?
Danny McPherson reported a small disposition of Verisign shares to cover taxes on vested restricted stock units. The company withheld shares instead of a cash payment, a routine, non-market transaction exempt under Rule 16b-3.
What are the dividend equivalent RSUs mentioned in Danny McPherson’s Verisign (VRSN) filing?
The filing notes 62.6610 dividend equivalent restricted stock units acquired on May 27, 2026. These RSUs were credited in respect of previously granted restricted stock units under Verisign’s Amended and Restated 2006 Equity Incentive Plan.
Why is Danny McPherson’s Verisign (VRSN) transaction exempt under Rule 16b-3?
The disposition is exempt under Rule 16b-3 because it represents payment of tax liability by delivering or withholding securities in connection with RSU vesting. Such insider equity-based tax payments are treated differently from discretionary open-market trades.