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On24 CFO Vattuone sells $41,075 in company stock

Published 13/02/2025, 22:42
On24 CFO Vattuone sells $41,075 in company stock
ONTF
1.36%

SAN FRANCISCO—Steven Vattuone, Chief Financial Officer of ON24 Inc. (NYSE:ONTF), a $287 million market cap company currently rated "Fair" by InvestingPro, recently sold a portion of his holdings in the company. According to a regulatory filing, Vattuone sold 6,146 shares of ON24 common stock on February 12, 2025. The shares were sold at a weighted average price of $6.6833, amounting to a total transaction value of $41,075. The transaction occurred with the stock trading near $6.93, within its 52-week range of $5.37 to $8.35. InvestingPro analysis indicates the stock is currently undervalued.

The sale was executed under a Rule 10b5-1 trading plan, which allows company insiders to set up a predetermined plan to sell stocks. This plan was adopted by Vattuone on September 12, 2024. Post-transaction, Vattuone retains ownership of 534,386 shares in ON24.

The shares were sold in multiple transactions with prices ranging from $6.67 to $6.71. Vattuone has committed to providing full details of the individual transactions upon request.

In other recent news, ON24 Inc. has announced the upcoming departure of a long-standing board member, Irwin Federman. According to a filing with the Securities and Exchange Commission, Federman, who has been with the board since March 2000, will not be seeking reelection at the 2025 Annual Meeting of Stockholders. The filing clarified that this decision does not arise from disagreements with the company's management or board.

Simultaneously, the board has decided to decrease its size from nine to eight directors, effective from the annual meeting. This development indicates a strategic resizing of the board's composition. These recent developments could potentially alter the governance dynamics of ON24 Inc., although no speculations have been made in the press release about the potential impact on the company's future direction or operations.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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