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

Arteris, Inc. CEO Charles Janac sold shares of common stock on April 2, 2024, to cover tax liabilities related to the release of restricted stock units.

Summary

• On April 2, 2024, Charles Janac, the President and CEO of Arteris, Inc., sold shares of the company's common stock.
• The sales were executed in multiple transactions at a weighted average price of $7.0267 and $7.0288.
• A total of 2,850 shares, 2,760 shares and 4,493 shares were sold.
• These transactions were made pursuant to a pre-arranged 10b5-1 trading plan adopted on March 12, 2023.
• The sales were intended to satisfy the reporting person's tax liability arising from the release of restricted stock units.
• Following the reported transactions, Janac directly owns 318,644 shares of Arteris, Inc. common stock.
• Janac also indirectly owns 10,307,691 shares through Bayview Legacy, LLC and 63,252 shares through the Charles & Lydia Janac Trust.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, indicating routine stock sales for tax purposes. It doesn't convey strong positive or negative sentiment.

Industry Context

Executive stock sales are a common occurrence, often related to compensation and tax planning. The use of a 10b5-1 trading plan suggests the sales were pre-planned and not based on current market information.

Stakeholder Impact

• The stock sale may have a minor impact on shareholders due to the increased supply of shares in the market, but the effect is likely to be minimal given the relatively small number of shares sold.

Key Dates