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Skillz Inc.·4

Jun 5, 6:20 PM ET

Paradise Andrew 4

Research Summary

AI-generated summary

Updated

Skillz (SKLZ) CEO Andrew Paradise Receives Awards; Shares Withheld

What Happened
Andrew Paradise, Chief Executive Officer of Skillz (SKLZ), had performance stock units (PSUs) and restricted stock units (RSUs) convert/settle into Class A common shares. On June 5, 2026, 285,714 PSU shares and 20,525 RSU shares were settled/converted into stock (acquired at $0.00). To satisfy withholding tax obligations, 112,429 PSU shares and 8,077 RSU shares were withheld (disposed) — totaling 120,506 shares withheld for approximately $1,420,660 ($1,399,741 + $20,919). Separately, a grant of 246,305 performance stock units was reported on May 26, 2026.

Key Details

  • Transaction dates and types: June 5, 2026 (PSU/RSU settlement/conversion — code M; tax-withholding share disposals — code F); May 26, 2026 (PSU grant — code A); April 24, 2026 noted as a vesting-related date for 50% of target PSUs.
  • Prices/values: PSU/RSU shares settled at $0.00 (no exercise price); withheld shares used to pay taxes: 112,429 shares at $12.45 = $1,399,741 and 8,077 shares at $2.59 = $20,919 (total ≈ $1.42M).
  • Shares owned after transaction: Not specified in the provided data.
  • Footnotes of note:
    • F1/F3: PSUs and RSUs settled into Class A common stock on June 5, 2026.
    • F2/F4: The withheld shares represent payment of withholding taxes in connection with vesting.
    • F5: 50% of target PSUs vested based on goals on April 24, 2026; units settled on June 5.
    • F6/F7: Each RSU equals one share; the RSU grant vests in 12 equal installments over three years (quarterly).
  • Filing timeliness: The report indicates the April 24 vesting/period and was filed on June 5, 2026; the filing is marked as late (L).

Context

  • These transactions are primarily award settlements and routine tax-withholding, not open-market sales. The withheld-share disposals (code F) are administrative — shares retained to pay taxes — rather than discretionary sales that typically signal insider sentiment.
  • For retail investors: awards/vests increase insider-owned equity but tax-withholdings reduce delivered share count; grants and future vesting schedules (per F7) are important for potential future insider share flow.