Gerald Yao, Chief Strategy Officer and Principal at FiscalNote Holdings, Inc. (NYSE: ), a $204 million market cap company with impressive gross profit margins of ~75%, recently sold 2,750 shares of Class A Common Stock. The stock has shown strong momentum, gaining nearly 17% in the past week and 35% year-to-date, according to InvestingPro data. The shares were sold at $1.50 each, for a total of $4,125. This transaction was executed on January 21, 2025, as part of a predetermined Rule 10b5-1 trading plan adopted by Yao on March 19, 2024. Based on InvestingPro’s Fair value analysis, the stock appears to be fairly valued at current levels.
Following this sale, Yao owns 190,289 shares indirectly through the Gerald Yao Revocable Trust, dated January 10, 2019. Additionally, he directly owns 4,000 shares of FiscalNote Holdings. The transaction was filed with the Securities and Exchange Commission on January 23, 2025. For a deeper look at FiscalNote’s financial condition and comprehensive analysis, access the full Pro Research Report available at InvestingPro.
In other recent news, FiscalNote Holdings, Inc. announced changes to its long-term incentive plan (LTIP) and granted stock to its CFO, Jon Slabaugh, reflecting changes to the company’s executive compensation structure. The 2022 LTIP amendments, which include an increase in the number of shares authorized for issuance and an adjustment to the annual “evergreen” provision, were approved by shareholders with a majority vote. The company also reported a positive financial result in the third quarter of 2024, recording five consecutive quarters of positive adjusted EBITDA and raising its 2024 forecast to $9 million.
FiscalNote’s total revenue in the third quarter of 2024 was $29.4 million, a significant portion of which was subscription-based. However, due to the asset sale, the company lowered its total revenue expectations for 2024 to $120 million. In a recent earnings call, FiscalNote indicated a change in strategic leadership, with CEO Tim Hwang becoming executive chairman to focus on strategic initiatives, while president and chief operating officer Josh Resnik is slated to take over.
These recent developments underscore FiscalNote’s strategic and financial trajectory, including efforts to improve its capital structure and focus on a sustainable net debt to EBITDA ratio. As part of its strategic moves, the company is investing in AI technology to improve customer engagement and efficiency, particularly in the international and corporate sectors.
This article was generated with the help of AI and reviewed by an editor. See our T&C for more information.
