TRAVERS DAVID 4

What Happened

• David Travers, President and interim CFO of ZipRecruiter (ZIP), had RSUs vest and converted into 68,720 shares on March 15, 2026. Of those, 38,422 shares were surrendered to the company to satisfy federal and state tax withholding obligations, valued at $2.83 per share for a total of $108,734. The RSU settlements show acquisition (code M) of shares and a disposition (code F) for the tax-withholding surrender. This was a withholding-to-cover-taxes transaction (routine), not an open-market sale.

Key Details

• Transaction date: March 15, 2026; Form 4 filed March 17, 2026 (timely within the 2-business-day window).
• RSU settlement: 68,720 shares were issued (aggregated from multiple RSU tranche conversions). Per-share acquisition price recorded as $0.00 (RSUs convert to shares on vesting).
• Tax withholding: 38,422 shares surrendered at $2.83/share = $108,734 (code F; exempt under Section 16b-3(e) for withholding).
• Net shares retained from this vesting event: approximately 30,298 shares (68,720 issued minus 38,422 surrendered).
• Shares owned after transaction: not specified in the filing.
• Footnotes: RSUs convert 1-for-1 into Class A common stock on settlement (F2). Vesting occurs in 1/16 quarterly tranches per grant schedules (footnotes F3–F7). F1 explains the surrendered shares were canceled by the issuer in exchange for paying the Reporting Person’s tax obligations.
• Transaction codes: M = option/derivative conversion (RSU settlement); F = payment of tax liability via withholding. No open-market sale reported.

Context

• This was a routine RSU vesting and tax-withholding transaction (a form of cashless settlement). Surrendering shares to cover taxes is common and does not indicate an open-market sell-off. For retail investors, purchases or open-market buys by insiders are typically more informative as bullish signals; this filing documents compensation vesting and tax withholding rather than a discretionary sale.