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Sezzle president forfeits shares for tax withholding after RSU vesting
The SEC filing shows the forfeiture was tied to restricted stock unit vesting, with the director and president still holding about 1.1 million shares valued near $144.6 million at the Aug. 11 close.
Sezzle Inc. disclosed in an SEC Form 4 that Paul Paradis, the company director and president, disposed of 7,110 shares at $118.00 per share on Aug. 10. According to Yahoo Finance, the share disposition was non-discretionary, occurring after 7,110 shares were forfeited to Sezzle to cover tax withholding obligations related to the vesting of restricted stock units. Paradis’ remaining equity stake totals roughly 1.1 million shares, split between about 390,000 shares held directly and about 737,000 shares held indirectly through a spouse and other disclaimed beneficial interest entities. Based on the Aug. 11 market close of $128.27, the total position was valued at approximately $144.6 million. Sezzle is a Minneapolis-based financial technology company that provides a payment platform using interest-free installment plans. The platform supports four equal, interest-free installments across e-commerce and physical retail in the United States and Canada, with revenue generated through merchant fees charged to businesses using its payment network, according to the same report.