Form 4: Akamai Technologies EVP Paul C. Joseph Sells 4,000 Shares
SEC Form 4 Filing
Paul C. Joseph, EVP of Global Sales at Akamai Technologies, sold 4,000 shares of common stock on March 15, 2024, at a price of $108.09 per share.
Summary
- Paul C. Joseph, an Executive Vice President at Akamai Technologies, sold 4,000 shares of Akamai common stock on March 15, 2024.
- The sale price was $108.09 per share.
- The transaction was executed under a pre-arranged Rule 10b5-1 trading plan adopted on May 23, 2023.
- Following the transaction, Joseph directly owns 34,595 shares indirectly through the PJ Joseph Trust 2020.
Sentiment
Score: 5
Explanation: The document is a standard SEC Form 4 filing, indicating a routine stock sale by an executive. The use of a 10b5-1 plan suggests the sale was pre-planned and doesn't necessarily reflect a negative outlook on the company.
Industry Context
Sales by company executives are a normal part of corporate governance. It is important to consider the context of the sale, such as the use of a 10b5-1 plan, which allows insiders to sell shares at predetermined times to avoid accusations of insider trading.
Stakeholder Impact
- The sale of shares by an executive could have a minor impact on shareholder sentiment, but the use of a pre-arranged trading plan mitigates concerns about insider trading.
Key Dates
| Date | Description |
|---|---|
| May 23, 2023 | Date Mr. Joseph adopted the Rule 10b5-1 Plan |
| March 15, 2024 | Date of the stock sale transaction |
| March 18, 2024 | Date of the signature on the Form 4 filing |
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