Schmidt Michael Reed 4
Research Summary
AI-generated summary
Wealthfront Director Michael Schmidt Receives 19,446 RSUs
What Happened
- Michael Reed Schmidt, a director of Wealthfront Corp (WLTH), was granted 19,446 restricted stock units (RSUs) on June 23, 2026. The reported acquisition price is $0.00 (a compensation award/derivative grant), so no cash changed hands at grant.
Key Details
- Transaction date: 2026-06-23; Form 4 filed: 2026-06-25.
- Grant: 19,446 restricted stock units (RSUs) recorded as a derivative award at $0.00.
- Shares owned after transaction: not specified in the supplied filing data.
- Footnotes from the filing:
- F1: Each RSU represents a contingent right to one share upon settlement.
- F2: Vesting occurs on the earlier of (i) the next annual stockholder meeting or (ii) the first anniversary of the grant date, subject to continuous service.
- F3: These RSUs do not expire; they either vest or are cancelled before vesting.
- No indication in the provided data that the filing was late.
Context
- RSUs are compensation awards that convert to actual shares only upon vesting; they do not represent immediate share ownership or cash proceeds. Director awards like this are common as part of board compensation and should not be interpreted alone as a buy or sell signal.