Form 4: Arcellx Director Olivia C. Ware Executes Stock Option and Sells Shares Under 10b5-1 Plan
SEC Form 4
Olivia C. Ware, a director at Arcellx, Inc., exercised stock options and sold shares of common stock on March 15, 2024, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- On March 15, 2024, Olivia C. Ware, a director of Arcellx, Inc., executed a stock option to acquire 9,000 shares of common stock at a price of $7.61 per share.
- Simultaneously, Ware sold shares of Arcellx common stock in multiple transactions at weighted average prices ranging from $69.438 to $70.9863.
- These sales were conducted under a pre-arranged Rule 10b5-1 trading plan established on December 15, 2023.
- Following these transactions, Ware directly owns 7,100 shares of Arcellx common stock.
- Ware also holds 46,208 derivative securities (stock options).
Sentiment
Score: 5
Explanation: The sentiment is neutral as the filing simply reports transactions executed under a pre-existing plan. There is no indication of positive or negative implications for the company.
Industry Context
This Form 4 filing is a routine disclosure of insider transactions, providing transparency to the market regarding the trading activities of company directors. It is common for executives to utilize 10b5-1 plans to diversify their holdings over time.
Stakeholder Impact
- The transactions provide transparency to shareholders regarding insider trading activity.
- The sales may have a minor impact on the stock price, depending on market perception.
Key Dates
| Date | Description |
|---|---|
| June 11, 2022 | Power of Attorney executed, appointing attorneys-in-fact to complete and execute Forms 3, 4 and 5. |
| May 16, 2022 | Equity Grant Date for stock options. |
| December 15, 2023 | Date the Rule 10b5-1 trading plan was entered into by the Reporting Person. |
| March 15, 2024 | Date of the reported transactions: stock option exercise and share sales. |
| March 18, 2024 | Date of signature for the Form 4 filing. |
| May 16, 2032 | Expiration date of the stock options. |
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