Form 4: Arteris Inc. CEO Charles Janac Sells Shares Under 10b5-1 Trading Plan
SEC Form 4
Charles Janac, President and CEO of Arteris, Inc., executed multiple sales of common stock between July 1st and July 3rd, 2024, under a pre-arranged 10b5-1 trading plan.
Summary
- Charles Janac, the President and CEO of Arteris, Inc., reported the sale of company common stock.
- The transactions occurred between July 1st and July 3rd, 2024.
- The sales were executed under a 10b5-1 trading plan adopted on February 27, 2024.
- On July 1st, 4,583 shares were sold at a weighted average price of $7.2401.
- On July 2nd, two transactions of 2,760 shares each were sold at $6.9795 per share.
- On July 3rd, 9,168 shares were sold at a weighted average price of $7.2284.
- Following these transactions, Janac directly owns 296,070 shares of 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 insider trading activity. The sentiment is neutral as it simply reports transactions.
Industry Context
Insider sales are a common occurrence, and the use of a 10b5-1 trading plan allows insiders to sell shares over a predetermined period, mitigating concerns about trading on non-public information.
Stakeholder Impact
- The sale of shares by the CEO could be perceived negatively by some shareholders, although the existence of a 10b5-1 plan mitigates this concern.
Key Dates
| Date | Description |
|---|---|
| February 27, 2024 | Date the Reporting Person adopted the 10b5-1 trading plan |
| 07/01/2024 | Date of first transaction: sale of 4,583 shares |
| 07/02/2024 | Date of second transaction: sale of 2,760 shares |
| 07/02/2024 | Date of third transaction: sale of 2,760 shares |
| 07/03/2024 | Date of fourth transaction: sale of 9,168 shares |
| 07/03/2024 | Date of report |
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