Form 4: APi Group Corp Director James E. Lillie Sells Shares Under 10b5-1 Plan

Director James E. Lillie reports the sale of APi Group Corp shares through JTOO LLC under a pre-arranged Rule 10b5-1 trading plan.

Summary

• James E. Lillie, a director of APi Group Corp, reported the sale of common stock on August 5, 2024.
• The sales were executed under a Rule 10b5-1 trading plan adopted by JTOO LLC on November 29, 2023.
• A total of 105,205 shares were sold at a weighted average price of $32.91, with prices ranging from $32.45 to $33.43.
• An additional 19,795 shares were sold at a weighted average price of $33.57, with prices ranging from $33.45 to $33.83.
• Following the transactions, Mr. Lillie indirectly beneficially owns 5,205,411 shares of common stock through JTOO LLC.
• He also indirectly owns 1,659 shares of common stock and 768,000 shares of Series A Preferred Stock through Mariposa Acquisition IV, LLC.
• Mr. Lillie disclaims beneficial ownership of shares except to the extent of his pecuniary interest.
• He also holds 3,810 restricted stock units that vest on June 14, 2025.
• The Series A Preferred Stock is convertible one-for-one into common stock and will automatically convert on the last trading day following October 1, 2026.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, indicating routine transactions. The sentiment is neutral as it simply reports the sale of shares under a pre-existing plan.

Industry Context

Sales by company directors are common and often pre-planned to avoid insider trading concerns. Rule 10b5-1 plans allow insiders to sell shares at predetermined times and prices.

Comparison to Industry Standards

• Director share sales are a normal part of corporate governance.
• The use of a 10b5-1 trading plan is a common method for insiders to sell shares without raising concerns about insider trading.
• Comparable companies often have similar insider trading policies and practices.

Stakeholder Impact

• The sale of shares by a director could have a minor impact on shareholder sentiment, but the existence of a 10b5-1 plan mitigates concerns about insider trading.

Key Dates