Form 4: Akamai Technologies EVP Mani Sundaram Reports Stock Transactions
SEC Form 4 Filing
Mani Sundaram, EVP and GM Security at Akamai Technologies, reports the vesting of restricted stock units and subsequent sale of shares under a pre-arranged Rule 10b5-1 trading plan.
Summary
- Mani Sundaram, an EVP and GM Security at Akamai Technologies, reported transactions involving Akamai common stock on March 7, 2025.
- These transactions included the vesting of 3,334 restricted stock units (RSUs), the disposition of 1,612 shares to cover tax obligations at a price of $82.81, and the sale of 6,497 shares at $86.12, 3,111 shares at $87.13, and 1,075 shares at $87.14.
- The sales were executed under a pre-arranged Rule 10b5-1 trading plan adopted on December 4, 2024.
- Following these transactions, Sundaram directly owns no common stock and indirectly owns 23,988 shares through The MMMM Family Living Trust and 62.315 shares through a 401(k) plan.
Sentiment
Score: 6
Explanation: The sentiment is neutral. The document simply reports stock transactions by an executive, which is a routine occurrence. The use of a 10b5-1 plan suggests transparency and pre-planning.
Positives
- The transactions were conducted under a pre-arranged Rule 10b5-1 trading plan, which is a legal and transparent way for insiders to sell company stock.
Industry Context
Insider transactions are routinely monitored and reported to the SEC. The use of a 10b5-1 plan indicates a planned and transparent approach to stock sales, which is a common practice among corporate executives.
Comparison to Industry Standards
- Monitoring insider trading activity is standard practice across publicly traded companies.
- Companies like Cloudflare, Fastly, and Limelight Networks also have executives who regularly report stock transactions.
- The use of Rule 10b5-1 plans is a common method for executives at these companies to manage their stock sales while avoiding accusations of insider trading.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the increased volume of shares being sold in the market.
Key Dates
| Date | Description |
|---|---|
| 2022-03-07 | Mr. Sundaram was granted 9,999 RSUs which vest over three years in equal installments on the first, second and third anniversaries of the grant date. |
| 2024-12-04 | Mr. Sundaram adopted a Rule 10b5-1 Plan. |
| 2025-03-04 | As of this date, Mani Sundaram held 62.315 shares in a 401(k) Plan. |
| 2025-03-07 | Date of the reported transactions: vesting of RSUs, tax-related disposition of shares, and sales of common stock. |
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