Thursday, 18 April 2024
Trending

[the_ad_group id="2845"]

Investing

MongoDB CEO Ittycheria sells over $5.9 million in company stock By Investing.com

Pinterest Climbs 2.25% By Investing.com

[the_ad id="21475"]

[ad_1]

MongoDB , Inc. (NASDAQ:) President and CEO Dev Ittycheria sold a total of 18,160 shares of the company’s Class A common stock on April 2, 2024, for an aggregate sale price exceeding $5.9 million. The shares were sold at prices ranging between $345.32 and $348.15, according to a recent SEC filing.

The transactions were part of a series of stock dispositions by Ittycheria to satisfy tax withholding obligations related to the vesting of performance-based restricted stock units (RSUs). These RSUs were awarded under MongoDB’s long-term incentive bonus plan and 2016 Equity Incentive Plan, and vested upon the company’s achievement of specific performance criteria.

In addition to the sales, Ittycheria also acquired a total of 26,384 shares through the vesting of performance-based RSUs. These shares were not previously reportable under Section 16 due to their performance-based vesting criteria. Following these transactions, Ittycheria’s direct ownership in MongoDB’s Class A common stock increased to a total of 243,233 shares.

The sales were executed to cover tax liabilities that arise upon the vesting of RSUs, a common practice among executives receiving equity-based compensation. The details provided in the filing’s footnotes indicate that such sales are often used to meet tax obligations in a manner that aligns with the executive’s compensation agreement and company policy.

MongoDB, headquartered in New York, is a leading provider of database software and services, known for its innovative NoSQL database platform. The company’s stock is publicly traded on the NASDAQ exchange under the ticker symbol MDB.

InvestingPro Insights

Following the recent news of MongoDB, Inc. (NASDAQ:MDB) President and CEO Dev Ittycheria’s stock transactions, investors may be keen to understand the financial health and market sentiment surrounding the company. According to InvestingPro data, MongoDB currently holds a market capitalization of $24.75 billion. Despite a challenging market environment, the company has demonstrated a substantial revenue growth of 31.07% over the last twelve months as of Q4 2024. This growth momentum is reflected in the company’s revenue for the same period, totaling $1.683 billion.

However, the company’s stock performance has seen significant volatility. Over the past month, the stock has declined by 22.21%, which aligns with the InvestingPro Tip that the stock has fared poorly over the last month. Additionally, the company’s Price / Book ratio stands at a…

Click Here to Read the Full Original Article at All News…

[ad_2]

[the_ad id="21476"]