ZIP Form 4: David Travers RSU Settlements and Tax-Withheld Shares
Rhea-AI Filing Summary
David Travers, an officer of ZipRecruiter, reported multiple vesting and settlement transactions on 09/15/2025 related to restricted stock units (RSUs). Several RSU tranches converted into Class A common shares at a $0 reported acquisition price: 6,250; 13,347; 20,691; and 20,444 shares, increasing his beneficial ownership stepwise to reported totals of 1,136,700, 1,150,047, 1,170,738, and 1,191,182 shares respectively. Separately, 32,402 shares were relinquished and cancelled by the issuer in an exempt transaction to satisfy federal and state tax withholding, recorded as a disposition at $4.90 per share, leaving a reported post-transaction ownership of 1,158,780 shares. The filing confirms each RSU represents a contingent right to one share and describes quarterly vesting schedules for the tranches and that RSUs do not expire.
Positive
- None.
Negative
- None.
Insights
TL;DR: Routine executive RSU vesting with shares withheld for tax obligations; no sale for cash proceeds reported.
The Form 4 documents scheduled RSU vesting converted to Class A shares and an issuer-withheld disposition to cover tax withholding. The disposition is recorded as an exempt transaction under Section 16b-3(e) and the reporting person did not sell shares for cash; shares were cancelled in exchange for tax payment by the issuer. The transactions change beneficial ownership counts but do not indicate open-market sales or monetization events. For investors, this is a standard compensation settlement and not a liquidity-driven sale by the officer.
TL;DR: Governance-normal RSU settlements and issuer tax withholding; disclosure aligns with Rule 16 reporting requirements.
The filing discloses multiple tranche vestings with clear vesting schedules and the use of a withholding/cancellation mechanism to satisfy tax liabilities. The explanation cites Section 16b-3(e) and confirms no constructive sale occurred. From a governance perspective, the filing meets transparency expectations for officer compensation-related equity events and documents post-transaction beneficial ownership snapshots for oversight.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 6,250 | $0.00 | -- |
| Exercise | Restricted Stock Units | 13,347 | $0.00 | -- |
| Exercise | Restricted Stock Units | 20,691 | $0.00 | -- |
| Exercise | Restricted Stock Units | 20,444 | $0.00 | -- |
| Exercise | Class A Common Stock | 6,250 | $0.00 | -- |
| Exercise | Class A Common Stock | 13,347 | $0.00 | -- |
| Exercise | Class A Common Stock | 20,691 | $0.00 | -- |
| Exercise | Class A Common Stock | 20,444 | $0.00 | -- |
| Tax Withholding | Class A Common Stock | 32,402 | $4.90 | $159K |
Footnotes (1)
- 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 relinquished by the Reporting Person and cancelled by the Issuer in exchange for the Issuer's agreement to pay federal and state tax withholding obligations of the Reporting Person resulting from the vesting of restricted stock units (the "RSUs"). The Reporting Person did not sell or otherwise dispose of any of the shares reported on this Form 4 for any reason other than to cover required taxes. Each RSU represents a contingent right to receive one share of the Issuer's Class A Common Stock upon settlement. The RSUs vest and are scheduled to settle as to 1/16 of the total shares quarterly beginning on March 15, 2022 until fully vested, subject to the Reporting Person's continued service to the Issuer on each vesting date. RSUs do not expire; they either vest or are canceled prior to vesting date. The RSUs vest and are scheduled to settle as to 1/16 of the total shares quarterly beginning on March 15, 2023 until fully vested, subject to the Reporting Person's continued service to the Issuer on each vesting date. The RSUs vest as to 1/16 of the total shares quarterly beginning on March 15, 2024 until fully vested, subject to the Reporting Person's continued service to the Issuer on each vesting date. The RSUs vest as to 1/16 of the total shares quarterly beginning on March 15, 2025 until fully vested, subject to the Reporting Person's continued service to the Issuer on each vesting date.
