Nathan J. Schultz - Sep 12, 2023 Form 4 Insider Report for CHEGG, INC (CHGG)

Signature
/s/ Nathan J. Schultz by Woodie Dixon, Jr., Attorney-in-Fact
Stock symbol
CHGG
Transactions as of
Sep 12, 2023
Transactions value $
-$53,469
Form type
4
Date filed
9/14/2023, 07:27 PM
Previous filing
Sep 6, 2023
Next filing
Dec 5, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CHGG Common Stock Tax liability -$25.3K -2.51K -0.58% $10.06 432K Sep 12, 2023 Direct F1
transaction CHGG Common Stock Tax liability -$12.6K -1.25K -0.29% $10.06 431K Sep 12, 2023 Direct F2
transaction CHGG Common Stock Sale -$15.6K -1.55K -0.36% $10.06 430K Sep 13, 2023 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 Exempt transaction pursuant to Section 16b-3(e) payment of exercise price or tax liability by delivering or withholding securities incident to the receipt, exercise or vesting of a security issued in accordance with Rule 16b-3. All of the shares reported as disposed of in this Form 4 were automatically withheld by the Issuer in accordance with the agreement governing the restricted stock units ("RSUs") to satisfy federal and state tax withholding obligations of the Reporting Person resulting from the vesting and settlement of RSUs. The Reporting Person did not sell any of the shares reported on this Form 4 item; such shares were cancelled by the Issuer in accordance with the foregoing.
F2 Exempt transaction pursuant to Section 16b-3(e) payment of exercise price or tax liability by delivering or withholding securities incident to the receipt, exercise or vesting of a security issued in accordance with Rule 16b-3. All of the shares reported as disposed of in this Form 4 were automatically withheld by the Issuer in accordance with the agreements governing the PSUs to satisfy federal and state tax withholding obligations of the Reporting Person resulting from the vesting and settlement of the PSUs. The Reporting Person did not sell any of the shares reported on this Form 4 item; such shares were cancelled by the Issuer in accordance with the foregoing.
F3 The sales reported in this Form 4 were pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on November 10, 2022.