Form 4: Arteris Inc. CEO Charles Janac Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Arteris, Inc. CEO Charles Janac sold shares of common stock on March 4, 2024, to cover tax liabilities and as part of a pre-arranged trading plan.
Summary
- On March 4, 2024, Charles Janac, the President and CEO of Arteris, Inc., sold 1,427 shares of common stock at $7.1662 and 1,876 shares at a weighted average price of $7.1636.
- The sales were executed to satisfy tax liabilities arising from the release of restricted stock units and pursuant to a 10b5-1 trading plan adopted on March 12, 2023.
- Following the transactions, Janac directly owns 328,747 shares of Arteris, Inc. common stock, which includes 228,747 restricted stock units.
- He 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 transactions. It doesn't convey any particularly positive or negative sentiment.
Industry Context
This is a routine disclosure of insider trading activity. It is common for executives to sell shares to cover tax obligations related to stock-based compensation.
Stakeholder Impact
- The stock sale may have a minor impact on shareholders due to the increased supply of shares in the market.
Key Dates
| Date | Description |
|---|---|
| 03/12/2023 | Date the 10b5-1 trading plan was adopted by the Reporting Person |
| 03/04/2024 | Date of the stock sale transactions |
| 03/06/2024 | Date of the Form 4 filing |
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