Form 4: AvePoint Director Zhijian Lu Sells Shares Under 10b5-1 Trading Plan
SEC Form 4
Director Zhijian Lu of AvePoint, Inc. executed sales of common stock between October 14 and October 16, 2024, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- Zhijian Lu, a director at AvePoint, Inc., sold shares of common stock over three days in October 2024.
- The sales were conducted under a Rule 10b5-1 trading plan adopted on May 19, 2024.
- On October 14, 2024, 10,000 shares were sold at $12.37 per share.
- On October 15, 2024, 10,000 shares were sold at $12.18 per share.
- On October 16, 2024, 10,000 shares were sold at $12.24 per share.
- Following these transactions, Lu's indirectly held beneficial ownership stands at 18,350,673 shares.
- These shares are held through various trusts and LLCs, including KEM Phoenix LLC, Fire Stone Family Trust, The Bridge Water Trust, The Cherry Tree Trust, KEM Lily LLC, and KEM Rose LLC.
- Lu disclaims beneficial ownership of these shares except to the extent of his pecuniary interest.
Sentiment
Score: 5
Explanation: The document is a standard SEC Form 4 filing, indicating insider trading activity. It is neutral in sentiment as it simply reports transactions.
Industry Context
Sales by company insiders are common and often pre-planned to avoid accusations of insider trading. The use of a 10b5-1 trading plan allows insiders to sell shares at predetermined times and prices.
Stakeholder Impact
- Shareholders may react to insider selling, although pre-planned sales under a 10b5-1 plan are generally viewed as less concerning.
Key Dates
| Date | Description |
|---|---|
| May 19, 2024 | Date the Reporting Person adopted the Rule 10b5-1 trading plan |
| October 14, 2024 | Date of first reported transaction (sale of 10,000 shares) |
| October 15, 2024 | Date of second reported transaction (sale of 10,000 shares) |
| October 16, 2024 | Date of third reported transaction (sale of 10,000 shares) and date of filing |
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