Home / Business and Economy / Sezzle CEO Sells Shares for Tax Withholding
Sezzle CEO Sells Shares for Tax Withholding
13 Aug
Summary
- CEO Youakim sold 6,978 shares for tax withholding obligations.
- This stock sale was a non-discretionary forfeiture of shares.
- Youakim retains a significant 44% ownership stake in Sezzle.
Charles Youakim, executive chairman and CEO of Sezzle Inc., a tech-powered point-of-sale financing platform, disposed of 6,978 shares of common stock on August 10. This transaction was a non-discretionary forfeiture to satisfy tax withholding requirements resulting from the vesting of restricted stock units. This automated disposal is standard for equity compensation and does not reflect market outlook.
Youakim maintains a significant ownership of Sezzle, holding 12.3 million shares directly and 2.5 million indirectly through entities like Cerro Gordo LLC. These combined holdings represent approximately 44% of the company's total shares. The shares were valued at $118.00 at the time of the tax withholding on August 10.
Sezzle Inc., operating in the United States and Canada, enables consumers to divide purchases into interest-free installments. The company generates revenue from merchant fees. As of August 10, Sezzle had achieved a one-year return of 30%, with its stock closing at $128.27 on August 11.
