TechTarget (TTGT) CFO Daniel Noreck Sells Shares to Cover Taxes

What Happened

• Daniel T. Noreck, Chief Financial Officer of TechTarget (TTGT), had 16,035 restricted stock units (RSUs) vest and be settled into common shares on Sept 22, 2026. Those RSUs were delivered as shares (reported as a conversion of a derivative).
• To satisfy tax withholding tied to the RSU settlement, Noreck executed a sell-to-cover on Sept 23, 2026, disposing of 4,889 shares at an average price of $3.74 for proceeds of $18,285. The sell-to-cover is described in the filing as not a discretionary sale by the reporting person.

Key Details

• Transaction dates and prices:
  • 2026-09-22: RSU settlement/conversion — 16,035 shares delivered (derivative settlement).
  • 2026-09-23: Open-market sell-to-cover — 4,889 shares at an average $3.74 (shares traded in the range $3.74–$3.77).
• Proceeds from sale: $18,285 (for the 4,889 shares sold).
• Shares owned after transaction: Not specified in the Form 4 filing.
• Notable footnotes:
  • The 16,035-share event represents scheduled RSU vesting and delivery (each RSU = one share).
  • The 4,889-share sale was a sell-to-cover to meet withholding tax obligations and is not a discretionary trade.
  • The RSU award was granted 9/22/2025; one-third vested 9/22/2026, with remaining tranches on 9/22/2027 and 9/22/2028.
• Filing/timeliness: Form 4 was filed 2026-09-24 reporting the 9/22/2026 vesting; this appears to be a timely filing.

Context

• These entries reflect routine equity compensation settlement (RSU vesting) plus a tax-withholding sale rather than a market-timed disposition. The derivative/“M” code in the filing corresponds to conversion/settlement of RSUs. Such sell-to-cover transactions are common and generally do not by themselves indicate the insider’s view on the company’s stock.