SoFi CEO Enters Prepaid Variable Forward Contract

SoFi Technologies ( (SOFI) ) has issued an announcement.

SoFi Technologies’ CEO, Anthony Noto, has entered into a prepaid variable forward contract involving 2 million shares of the company’s common stock, amounting to around 10% of his beneficial ownership but less than 1% of SoFi’s total outstanding shares. This arrangement provides Noto with liquidity while allowing him to retain voting and dividend rights. The contract, maturing in February 2028, requires settlement either in shares or cash, depending on SoFi’s stock price at that time, with a floor price of $13.06 and a cap price of $30.74, impacting Noto’s future participation in stock performance.

More about SoFi Technologies

SoFi Technologies is a financial technology company that primarily offers a range of financial products and services, including loans, investment management, and banking services. The company focuses on providing convenient and user-friendly financial solutions to consumers and aims to disrupt traditional financial service providers.

YTD Price Performance: 69.65%

Average Trading Volume: 52,306,125

Technical Sentiment Consensus Rating: Sell

Current Market Cap: $18.32B

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