Filing Details

Accession Number:
0001415889-21-000337
Form Type:
4
Zero Holdings:
No
Publication Time:
2021-01-19 16:30:14
Reporting Period:
2021-01-14
Accepted Time:
2021-01-19 16:30:14
SEC Url:
Form 4 Filing
Issuer
Cik Name Symbol Sector (SIC) IRS No
1720116 Red Violet Inc. RDVT () 4
Insiders
Cik Name Reported Address Insider Title Director Officer Large Shareholder Other
1336508 Michael Brauser 2650 N. Military Trail, Suite 300
Boca Raton FL 33431
No No No No
Reported Non-Derivative Transactions
Sec. Name Acquisiton - Disposition Date Amount Price Remaning Holdings Equity Swap Involved Form Type Code Nature of Ownership Explanation
Common Stock Disposition 2021-01-14 240,000 $24.50 1,018,425 No 4 S Direct
Common Stock Disposition 2021-01-15 40,000 $24.00 107,951 No 4 S Indirect See footnote
Common Stock Disposition 2021-01-15 27,000 $24.00 529,250 No 4 S Indirect See footnote
Equity Swap Involved Form Type Code Nature of Ownership Explanation
No 4 S Direct
No 4 S Indirect See footnote
No 4 S Indirect See footnote
Reported Non-Derivative Holdings
Sec. Name Remaning Holdings Nature of Ownership Explanation
Common Stock 166,667 Direct
Common Stock 5,084 Indirect See footnote
Common Stock 2,417 Indirect See footnote
Footnotes
  1. Includes 333,333 shares of the 500,000 Performance Grant, which have already vested.
  2. Shares held by Birchtree Capital, LLC, of which Mr. Brauser is the manager.
  3. Shares held by Grander Holdings, Inc. 401K Profit Sharing Plan of which Mr. Brauser is trustee.
  4. . The Performance Grant shall not vest unless and until the Company has, for any fiscal quarter through September 30, 2021 (i) gross revenue determined in accordance with the Company's reviewed or audited financial statements in excess of $7.0 million for such fiscal quarter, (ii) positive adjusted EBITDA, as determined based on the Company's reviewed or audited financial statements for such fiscal quarter, and (iii) the participant continues to provide services to the Company either as an employee, director or consultant on the last date of the quarter that the performance criteria is met (collectively, the "Performance Criteria"). If the Performance Criteria are met, the RSUs vest one-third annually on each of July 1, 2019, July 1, 2020 and July 1, 2021 ("Time-Based Vesting Requirement").
  5. In the event of a change of control, all RSUs which have not vested on the date of such change of control shall immediately vest even if the Time-Based Vesting Requirement has not been met. 333,333 shares of the Performance Grant have already vested. Following the achievement of the Performance Criteria, the remaining 166,667 RSUs will vest on July 1, 2021, subject to accelerated vesting under certain conditions.
  6. Shares held by BSIG, LLC, of which Mr. Brauser is a member. Mr. Brauser disclaims beneficial ownership of these shares except to the extent of any pecuniary ownership he may have.
  7. Shares held by Betsy and Michael Brauser Charitable Family Foundation, Inc. of which Mr. Brauser is a director.