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SAN FRANCISCO—Storm Adam, President and Chief Product Officer at Wag! Group Co. (NASDAQ:PET), recently sold shares of the company, according to a regulatory filing on February 19, 2025. The company, currently valued at $17.4 million, has seen its stock decline 86% over the past year according to InvestingPro data. The transactions involved the sale of 30,376 shares of common stock, with prices ranging from $0.30 to $0.31 per share. The total value of these sales amounted to $9,135.
The sales were conducted to cover tax withholding obligations related to the vesting of restricted stock units. This was part of a mandatory "sell to cover" transaction, as required by the company’s incentive plans, and did not represent discretionary trades by Mr. Adam. Following these transactions, Adam retains ownership of 1,234,797 shares in the company.
In other recent news, Wag! Group Co. has been notified by the Nasdaq Stock Market about a potential delisting due to its market value of publicly held securities falling below the required $15 million threshold. The company’s market value had been below this minimum for 30 consecutive business days, from November 13, 2024, to January 13, 2025. This notice does not immediately affect Wag! Group’s stock listing, and the company has until July 14, 2025, to meet the necessary requirements to avoid delisting. If Wag! Group fails to comply by the deadline, its securities may be subject to delisting. Previously, the company had been informed on September 27, 2024, of failing to meet other listing requirements under Nasdaq’s standards. While Wag! Group has the right to appeal any delisting decision, there is no assurance that such an appeal would be successful. The information regarding these developments was disclosed in a recent SEC filing by Wag! Group Co.
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