Gogo (GOGO) director Thorne details RSU vesting and share tax sales
Rhea-AI Filing Summary
Gogo Inc. director and 10% owner Oakleigh Thorne reported the automatic vesting and conversion of several tranches of restricted stock units into common stock on January 8, 2026, triggered by the expiration of his employment agreement with the company. RSU blocks of 22,475, 75,620, and 169,642 units each converted into the same number of Gogo common shares on a one-for-one basis.
To cover taxes on these vestings, shares of common stock were withheld at $5.24 per share in amounts including 9,293, 27,966, and 71,788 shares. Following these transactions, Thorne held 1,427,929 Gogo shares directly and 100 shares indirectly through his spouse, while entities associated with him held an additional 27,163,859 and 139,536 shares as described in the footnotes, for which beneficial ownership is disclaimed except to the extent of any pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 22,475 | $0.00 | -- |
| Exercise | Restricted Stock Units | 75,620 | $0.00 | -- |
| Exercise | Restricted Stock Units | 169,642 | $0.00 | -- |
| Exercise | Common Stock | 22,475 | $0.00 | -- |
| Tax Withholding | Common Stock | 9,293 | $5.24 | $49K |
| Exercise | Common Stock | 75,620 | $0.00 | -- |
| Tax Withholding | Common Stock | 27,966 | $5.24 | $147K |
| Exercise | Common Stock | 169,642 | $0.00 | -- |
| Tax Withholding | Common Stock | 71,788 | $5.24 | $376K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- Restricted stock units ("RSUs") convert into common stock on a one-for-one basis. On January 8, 2026, following the expiration of the reporting person's employment agreement with the Company (as previously described in the Company's public filings), all of his outstanding RSUs automatically vested into shares of common stock. The reporting person remains a member of the Company's board of directors. All outstanding RSUs were initially set to vest in four equal annual installments starting on the first anniversary of the respective grant date, subject to continued employment with the Company. Reflects RSUs granted to the reporting person on March 24, 2022. Reflects RSUs granted to the reporting person on March 3, 2023. Reflects RSUs granted to the reporting person on April 1, 2024. Reflects (i) 27,163,859 shares of common stock held directly by Thorndale Farm Gogo, LLC and (ii) 139,536 shares of common stock held directly by OAP, LLC. Thorndale Farm, Inc. is the managing member of Thorndale Farm Gogo, LLC. Mr. Thorne, as the chief executive officer of Thorndale Farm, Inc. may be deemed to have beneficial ownership of the shares of common stock held by Thorndale Farm Gogo, LLC. Additionally, Mr. Thorne, as the managing member of OAP, LLC, may be deemed to have beneficial ownership of the shares of common stock held by OAP, LLC. Mr. Thorne and Thorndale Farm, Inc. disclaim beneficial ownership of such shares of common stock except, in each case, to the extent of any pecuniary interest therein and this report shall not be deemed an admission that Mr. Thorne or Thorndale Farm, Inc. is a beneficial owner of such shares of common stock for purposes of Section 16 or for any other purpose.
FAQ
What insider activity did Gogo (GOGO) disclose for Oakleigh Thorne?
The company disclosed that Oakleigh Thorne, a director and 10% owner, had multiple blocks of restricted stock units (RSUs) automatically vest and convert into Gogo common stock on January 8, 2026, following the expiration of his employment agreement.
How many Gogo (GOGO) RSUs vested and converted to common stock?
On January 8, 2026, RSU grants of 22,475, 75,620, and 169,642 units vested, each converting into the same number of Gogo common shares on a one-for-one basis as described in the filing.
What indirect Gogo (GOGO) holdings are associated with Oakleigh Thorne?
The footnotes state that entities associated with Thorne hold 27,163,859 Gogo shares through Thorndale Farm Gogo, LLC and 139,536 shares through OAP, LLC. Thorne and Thorndale Farm, Inc. may be deemed to have beneficial ownership but disclaim beneficial ownership except to the extent of any pecuniary interest.
Does Oakleigh Thorne remain involved with Gogo (GOGO) after his employment agreement expired?
Yes. The footnotes explain that, even though his employment agreement expired and triggered the RSU vesting, Thorne remains a member of Gogo’s board of directors.