Form 4: Arteris Inc. CEO Charles Janac Sells Shares to Cover Tax Obligations

Arteris, Inc. CEO Charles Janac sold shares of company stock on October 2nd and 3rd, 2024, to cover tax liabilities and as part of a pre-arranged trading plan.

Summary

• Charles Janac, the President and CEO of Arteris, Inc., sold shares of Arteris common stock on October 2nd and 3rd, 2024.
• The sales were executed to cover tax liabilities arising from the release of restricted stock units and as part of a 10b5-1 trading plan adopted on February 27, 2024.
• On October 2, 2024, two transactions each involved the sale of 2,760 shares at a price of $7.1801 per share.
• On October 3, 2024, 9,168 shares were sold at a weighted average price of $7.0875, with individual prices ranging from $6.99 to $7.22.
• Following these transactions, Mr. Janac directly owns 278,079 shares of Arteris common stock.
• He also indirectly owns 10,307,691 shares through Bayview Legacy, LLC, where he serves as manager, and 63,252 shares through the Charles & Lydia Janac Trust, where he is a trustee.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, indicating insider transactions. The sentiment is neutral as it simply reports facts without expressing any positive or negative outlook.

Industry Context

Insider selling can sometimes be viewed negatively by the market, but sales executed under pre-arranged 10b5-1 trading plans are generally viewed as less concerning since they are planned in advance and not based on current insider information.

Stakeholder Impact

• The stock sale could have a minor negative impact on shareholder sentiment, although the existence of a 10b5-1 plan mitigates this concern.

Key Dates