Form 4: Arteris Inc. VP and General Counsel Sells Shares to Cover Tax Obligations and Under 10b5-1 Plan
SEC Form 4 Filing
Arteris Inc.'s VP and General Counsel, Paul L. Alpern, sold a total of 683 shares of common stock on December 3rd and 5th, 2024, to cover tax liabilities and under a pre-arranged trading plan.
Summary
- Paul L. Alpern, VP and General Counsel of Arteris, Inc., sold 258 shares of common stock on December 3, 2024, at a price of $8.5783 per share.
- He also sold 425 shares of common stock on December 5, 2024, at a price of $9.3 per share.
- The sales on December 3rd were to cover tax liabilities arising from the release of restricted stock units.
- The sales on December 5th were executed under a pre-arranged 10b5-1 trading plan adopted on May 8, 2024.
- Following these transactions, Mr. Alpern beneficially owns 67,401 shares of Arteris, Inc. common stock.
Sentiment
Score: 5
Explanation: The document reflects routine insider trading activity, which is neither positive nor negative for the company's overall prospects. The sales are explained by tax obligations and a pre-arranged trading plan.
Industry Context
This is a routine disclosure of insider trading activity, which is common for executives of publicly traded companies. The use of a 10b5-1 plan is a common practice to avoid accusations of insider trading.
Comparison to Industry Standards
- The use of 10b5-1 trading plans is a standard practice among executives at publicly traded companies to manage their stock sales and avoid insider trading accusations.
- The reported transactions are typical for executives who receive stock-based compensation and need to cover tax liabilities.
- Similar transactions are regularly reported by executives at comparable technology companies.
Stakeholder Impact
- The stock sales by an executive may have a minor impact on shareholder sentiment, but the transactions are routine and explained.
Key Dates
| Date | Description |
|---|---|
| 05/08/2024 | Date the 10b5-1 trading plan was adopted by Paul L. Alpern. |
| 12/03/2024 | Date of the first stock sale of 258 shares at $8.5783 per share. |
| 12/05/2024 | Date of the second stock sale of 425 shares at $9.3 per share. |
Keywords
Arteris Inc., insider trading, Form 4, stock sale, 10b5-1 plan, Paul L. Alpern, executive compensation, tax liability, restricted stock units
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