Form 4: Aadi Bioscience Executive Chairman Neil Desai Sells 40,000 Shares

Neil Desai, Executive Chairman of Aadi Bioscience, Inc., sold 40,000 shares of common stock at an average price of $1.9296 on May 1, 2024, according to a Form 4 filing with the SEC.

Summary

• On May 1, 2024, Neil Desai, the Executive Chairman of Aadi Bioscience, Inc., sold 40,000 shares of common stock.
• The sale was executed at a weighted average price of $1.9296 per share, with individual prices ranging from $1.885 to $1.975.
• The transaction was conducted under a Rule 10b5-1 trading plan.
• Following the transaction, Desai directly owns no shares but indirectly owns 1,331,543 shares through the Anishka Family Trust and 639,698 shares through the Anishka Irrevocable 2016 Trust.
• Desai disclaims beneficial ownership of the shares held by the Irrevocable Trust except to the extent of any pecuniary interest.

Sentiment

Score: 5

Explanation: The sentiment is neutral as it reports a routine transaction (stock sale) by an executive under a pre-existing trading plan. It doesn't inherently indicate positive or negative prospects for the company.

Industry Context

Executive stock sales are a common occurrence and are often related to personal financial planning. The use of a 10b5-1 trading plan suggests the sales were pre-planned and not based on insider information.

Key Dates