Blackie James 4
4 · ON24 INC. · Filed Apr 2, 2026
Research Summary
AI-generated summary of this filing
ON24 (ONTF) CRO Blackie James Surrenders 1.05M Shares in Cash Merger
What Happened
Blackie James, Chief Revenue Officer of ON24 (ONTF), had a series of transactions on April 1, 2026 tied to the company’s merger. The Form 4 shows an award/acquisition of 59,029 shares (reported at $0.00) and dispositions to the issuer totaling 1,051,435 shares (various equity and derivative holdings). Under the merger, each ON24 share was cancelled for $8.10 in cash; using that price, the surrendered 1,051,435 shares imply gross consideration of roughly $8.52 million. Note: options were converted into cash equal to $8.10 minus the option exercise price, so actual cash received for option-derived amounts may be lower.
Key Details
- Transaction date: April 1, 2026 (reported on Form 4 filed Apr 2, 2026).
- Dispositions to issuer: 1,051,435 total shares (includes multiple derivative cancellations); Award/Acquisition: 59,029 shares reported at $0.00.
- Implied value (if treated at $8.10/share): ≈ $8.52M for the 1,051,435 surrendered shares; actual proceeds for options depend on each option’s strike.
- Shares owned after transaction: not specified in the data provided on this filing.
- Footnotes: Transactions occurred pursuant to the Merger Agreement—each outstanding common share was cancelled for $8.10 cash; outstanding RSUs received similar cash treatment (unvested RSUs remain subject to time-based vesting); outstanding options were converted to cash equal to $8.10 minus exercise price.
- Filing timeliness: filing date corresponds to the merger effective date and appears to be a routine Form 4 reporting these merger-related conversions (no late filing indicator provided).
Context
These actions are merger-driven conversions/cancellations rather than open-market buys or voluntary insider sales. For retail investors: purchases by insiders are typically more informative as bullish signals; this filing primarily documents the contractual cash-out of equity and derivative awards under the acquisition terms. For option-derived amounts, the cash paid depends on the option strike (per footnote), so the Form 4 does not necessarily show the same per-share cash for every disposed instrument.
Insider Transaction Report
- Award
Common Stock
2026-04-01+59,029→ 539,964 total - Disposition to Issuer
Common Stock
[F1]2026-04-01−539,964→ 0 total - Disposition to Issuer
Stock Option (Right to Buy)
[F2]2026-04-01−35,696→ 0 totalExercise: $0.99Exp: 2026-12-09→ Common Stock (35,696 underlying) - Disposition to Issuer
Stock Options (Right to buy)
[F2]2026-04-01−122,727→ 0 totalExercise: $13.33Exp: 2030-12-11→ Common Stock (122,727 underlying) - Disposition to Issuer
Stock Options (Right to buy)
[F2]2026-04-01−18,273→ 0 totalExercise: $13.33Exp: 2030-12-11→ Common Stock (18,273 underlying) - Disposition to Issuer
Stock Options (Right to buy)
[F2]2026-04-01−89,271→ 0 totalExercise: $2.00Exp: 2030-01-16→ Common Stock (89,271 underlying) - Disposition to Issuer
Stock Options (Right to buy)
[F2]2026-04-01−222,588→ 0 totalExercise: $1.79Exp: 2026-12-09→ Common Stock (222,588 underlying) - Disposition to Issuer
Stock Options (Right to buy)
[F2]2026-04-01−22,916→ 0 totalExercise: $1.23Exp: 2030-01-16→ Common Stock (22,916 underlying)
Footnotes (2)
- [F1]Pursuant to the Agreement and Plan of Merger, dated as of December 29, 2025 (the "Merger Agreement") among the Issuer, Cvent Atlanta, LLC ("Parent"), and Summit Sub Corp. ("Merger Sub"), on April 1, 2026, Merger Sub merged with and into the Issuer, with the Issuer continuing as the surviving company and a wholly-owned subsidiary of Parent (the "Merger"). At the effective time of the Merger, each outstanding share of Issuer common stock was automatically canceled and converted into the right to receive cash in an amount equal to $8.10 per share, without interest, with similar treatment for outstanding RSUs except that unvested RSUs remain subject to time-based vesting conditions.
- [F2]At the effective time of the Merger, each outstanding option to purchase Issuer common stock was automatically canceled and converted into the right to receive cash in an amount equal to $8.10 less the exercise price per share of such option.