TechTarget CFO Daniel Noreck Sells Shares, Receives RSU Award

What Happened

• Daniel T. Noreck, Chief Financial Officer of TechTarget, sold 5,633 shares on 2026-08-21 in an open-market / sell-to-cover transaction for an average price of about $3.85 per share (total ≈ $21,687). On 2026-08-24 he was granted 99,346 restricted stock units (RSUs) reported as a derivative award (no immediate cash value).

Key Details

• Transaction dates and prices:
  • 2026-08-21: Sale of 5,633 shares at an average price ~$3.85 (prices ranged $3.83–$3.85).
  • 2026-08-24: Grant of 99,346 RSUs (reported at $0.00 since RSUs are contingent awards).
• Sale value: ≈ $21,687.
• Shares owned after transaction: not specified in the Form 4 filing.
• Footnotes of note:
  • The sale was a "sell to cover" to satisfy withholding taxes on previously vested RSUs and "does not represent a discretionary transaction" by the reporting person (F1, F2).
  • Each RSU equals the right to one share upon vesting (F3); the RSU award vests in three equal annual tranches (one-third per year) with shares delivered on each vesting date (F4).
• Filing: Form 4 filed 2026-08-25 reporting the above transactions (filing shows the dates of the transactions as Aug 21 and Aug 24).

Context

• The sale appears to be a routine tax-withholding sale tied to prior RSU vesting, not a standalone directional trade. The 99,346 RSUs are contingent awards that will convert to shares only as they vest over time; they are not immediate open-market purchases. Retail investors should view sell-to-cover transactions as administrative/tax-related rather than an explicit bearish signal.