Sanborn Joseph 4

What Happened
Joseph Sanborn, EverQuote’s Chief Financial Officer and Chief Administrative Officer, disposed of 9,253 shares following the April 1, 2026 vesting of restricted stock units (RSUs). On April 1, 2026 the company withheld 8,603 shares at $14.74 each (worth $126,808) to satisfy tax withholding. On April 2, 2026 Sanborn sold an additional 650 shares in the open market at $14.42 each (worth $9,373). These transactions are sales to cover tax obligations associated with RSU vesting, not new purchases.

Key Details

• Transaction dates and prices:
  • 2026-04-01: 8,603 shares withheld for taxes @ $14.74 = $126,808 (code F)
  • 2026-04-02: 650 shares sold open market @ $14.42 = $9,373 (code S)
• Total shares disposed: 9,253; total proceeds: ~$136,181.
• Shares owned after transaction: not specified in the provided filing excerpt.
• Footnotes:
  • Withheld shares represent company withholding to satisfy tax obligations from RSU vesting (based on 4/1/2026 closing price).
  • The April 2 sale was executed under a Rule 10b5-1 trading plan adopted March 17, 2023 and was not a discretionary trade.
• Filing: Report filed April 2, 2026; no late filing indicated in the document provided.

Context
Withholding shares to cover taxes on vested RSUs is a common, routine administrative transaction and is effectively a non-cash way to satisfy tax liabilities (similar to a cashless settlement). The separate open-market sale was carried out under a pre-established 10b5-1 plan, meaning the sale schedule was set in advance and is not an active market-timing decision by the insider. Such tax-related sales are generally not considered a strong signal of management’s view on the company’s outlook.