Form 4: ADP Corporate Vice President Michael Bonarti Executes Stock Options and Sells Shares Under 10b5-1 Plan
SEC Form 4 Filing
Michael Bonarti, a Corporate Vice President at Automatic Data Processing Inc (ADP), executed stock options and sold shares of common stock under a pre-arranged 10b5-1 trading plan.
Summary
- On August 23, 2024, Michael Bonarti exercised options to acquire 7,984 shares of ADP common stock at a price of $169.84 per share and sold the same amount at $270.1529 per share.
- On August 26, 2024, Bonarti exercised options to acquire 26,442 shares of ADP common stock at a price of $169.84 per share.
- On August 26, 2024, Bonarti sold 3,940 shares at $271.4249 per share and 22,502 shares at $270.8798 per share.
- These transactions were executed under a Rule 10b5-1 trading plan adopted in September 2023.
- Following these transactions, Bonarti directly owns 88,425.594 shares of ADP common stock.
Sentiment
Score: 5
Explanation: Neutral sentiment as the transactions are part of a pre-planned trading strategy and do not necessarily reflect a change in the executive's view of the company's prospects.
Industry Context
Insider transactions are routinely monitored by investors as they can provide signals, though sales under 10b5-1 plans are less informative since they are pre-scheduled.
Key Dates
| Date | Description |
|---|---|
| 09/01/2020 | Date stock options became exercisable |
| September 2023 | Adoption of Rule 10b5-1 trading plan |
| 08/23/2024 | Exercise of stock options and sale of shares |
| 08/26/2024 | Exercise of stock options and sale of shares |
| 08/31/2029 | Expiration date of stock options |
| 08/27/2024 | Date of Form 4 filing |
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