Form 4: Adobe Executive Anil Chakravarthy Sells Shares Under 10b5-1 Trading Plan
SEC Form 4
Anil Chakravarthy, President of Digital Experience at Adobe, sold 100 shares of common stock at $471 per share on April 22, 2024, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- On April 22, 2024, Anil Chakravarthy, President of Digital Experience at Adobe, sold 100 shares of Adobe's common stock.
- The sale was executed at a price of $471 per share.
- The transaction was conducted under a Rule 10b5-1 trading plan adopted on January 22, 2024.
- Following the transaction, Chakravarthy directly owns 33,608.8864 shares of Adobe common stock.
Sentiment
Score: 5
Explanation: Neutral sentiment as it reports a routine stock sale under a pre-existing trading plan.
Industry Context
Executive stock sales are a common occurrence in publicly traded companies and are often part of pre-planned diversification strategies or to cover personal expenses. The use of a 10b5-1 trading plan allows insiders to sell shares without being accused of trading on non-public information.
Stakeholder Impact
- The sale of a small number of shares by an executive is unlikely to have a significant impact on shareholders.
Key Dates
| Date | Description |
|---|---|
| 01/22/2024 | Date of adoption of Rule 10b5-1 trading plan. |
| 04/22/2024 | Date of stock sale transaction. |
| 04/23/2024 | Date of signature on the Form 4 filing. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.