TaskUs (NASDAQ: TASK) CEO boosts equity stake with RSU exercise and tax withholding
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
TaskUs, Inc. Chief Executive Officer Bryce Maddock exercised restricted stock units into Class A common stock and increased his direct holdings. He converted 92,696 restricted stock units into 92,696 shares of Class A common stock at a conversion price of $0.00 per share.
To cover tax withholding obligations on this settlement, 36,476 Class A shares were withheld at a price of $6.54 per share, which reduced the net shares he received. After these transactions, Maddock directly holds 1,246,464 Class A shares. Additional Class A shares are held indirectly through The Bryce Maddock Family Trust and two Maddock 2015 irrevocable trusts, where he serves as trustee or business trustee.
Positive
- None.
Negative
- None.
Insider Trade Summary
92,696 shares exercised/converted
Mixed
6 txns
Insider
Maddock Bryce
Role
Chief Executive Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 92,696 | $0.00 | -- |
| Exercise | Class A Common Stock | 92,696 | $0.00 | -- |
| Tax Withholding | Class A Common Stock | 36,476 | $6.54 | $239K |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Units — 95,506 shares (Direct);
Class A Common Stock — 1,282,940 shares (Direct);
Class A Common Stock — 1,118,321 shares (Indirect, See Footnote)
Footnotes (1)
- Each restricted stock unit ("RSU") represents a contingent right to receive one share of Class A common stock of the Issuer. The RSUs will be settled in either Class A common stock of the Issuer or cash (or a combination thereof). These RSUs vest annually over three years as follows: 33% on March 15, 2025; 33% on March 15, 2026; and 34% on March 15, 2027. Represents shares withheld in connection with the settlement of vested restricted stock units to cover tax withholding obligations. Reflects securities held by The Bryce Maddock Family Trust, of which the Reporting Person is the trustee. Reflects securities held by The Maddock 2015 Irrevocable Trust, of which the Reporting Person is the business trustee. Reflects securities held by The Maddock 2015 Exempt Irrevocable Trust, of which the Reporting Person is the business trustee.
Key Figures
RSUs exercised: 92,696 units
Conversion price: $0.00 per share
Shares withheld for taxes: 36,476 shares
+3 more
6 metrics
RSUs exercised
92,696 units
Restricted stock units converted into Class A common stock
Conversion price
$0.00 per share
RSU-to-Class A common stock conversion price
Shares withheld for taxes
36,476 shares
Class A shares withheld to cover tax obligations
Tax withholding price
$6.54 per share
Value used for shares withheld for tax obligations
Direct Class A holdings
1,246,464 shares
Direct Class A common stock held after transactions
RSU vesting schedule
33%, 33%, 34%
Annual vesting on Mar 15, 2025, 2026, and 2027
Key Terms
Restricted Stock Units, tax withholding obligations, Family Trust, Irrevocable Trust, +1 more
5 terms
Restricted Stock Units financial
"Each restricted stock unit ("RSU") represents a contingent right to receive one share"
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.
tax withholding obligations financial
"Represents shares withheld in connection with the settlement of vested restricted stock units to cover tax withholding obligations"
Family Trust financial
"Reflects securities held by The Bryce Maddock Family Trust, of which the Reporting Person is the trustee"
Irrevocable Trust financial
"Reflects securities held by The Maddock 2015 Irrevocable Trust, of which the Reporting Person is the business trustee"
Exercise or conversion of derivative security financial
"transaction_code_description": "Exercise or conversion of derivative security"
FAQ
What did TaskUs (TASK) CEO Bryce Maddock report in this Form 4?
Bryce Maddock reported exercising 92,696 restricted stock units into Class A common stock. A portion of the resulting shares was withheld to satisfy tax obligations, and his direct Class A share ownership increased following these equity compensation-related transactions.
What are Bryce Maddock’s direct TaskUs (TASK) Class A holdings after the transactions?
After the reported equity transactions, Bryce Maddock directly holds 1,246,464 shares of TaskUs Class A common stock. This figure reflects the net result of his restricted stock unit conversion and the shares withheld to satisfy related tax withholding requirements.
How many restricted stock units did the TaskUs (TASK) CEO convert?
The CEO converted 92,696 restricted stock units, each representing a contingent right to receive one Class A share. These units convert at a stated price of $0.00 per share and are tied to a vesting schedule spanning March 2025 through March 2027.