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Wag! group co. CFO sells shares worth $6,832 to cover taxes

Published 20/02/2025, 03:50
Wag! group co. CFO sells shares worth $6,832 to cover taxes
PETXQ
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Alec Davidian, Chief Financial Officer of Wag! Group Co. (NASDAQ:PET), executed a sale of company shares valued at $6,832, according to a recent SEC filing. The company, currently trading near $0.31, has seen its stock decline over 85% in the past year, though InvestingPro data shows impressive gross profit margins of 78%. The transactions, which occurred on February 19, involved the sale of 22,719 shares at prices ranging from $0.30 to $0.31 per share. These sales were made to cover tax withholding obligations related to the vesting of restricted stock units, as mandated by the company’s incentive plans. Following these transactions, Davidian holds 795,971 shares of Wag! Group Co. With a market capitalization of $17.4 million and current ratio of 0.62, InvestingPro analysis indicates the stock is currently undervalued, though the company faces challenges with cash burn and profitability. Discover 14 additional key insights about PET through the comprehensive Pro Research Report, available exclusively on InvestingPro.

In other recent news, Wag! Group Co. has received a notice from the Nasdaq Stock Market due to its market value of publicly held securities falling below the required $15 million threshold. This situation has persisted for 30 consecutive business days, from November 13, 2024, to January 13, 2025. Although the notice does not immediately affect the company’s stock listing, Wag! Group faces a deadline of July 14, 2025, to comply with the Nasdaq’s market value requirement to avoid potential delisting. Previously, the company was also notified on September 27, 2024, about failing to meet other listing standards set by Nasdaq. Wag! Group has the option to appeal any delisting decision, but success in such appeals is not guaranteed. The company operates remotely without a physical headquarters. These developments are based on a recent SEC filing made by Wag! Group Co.

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