Form 4: Booking Holdings CEO Sells Shares Under 10b5-1 Plan

Booking Holdings Inc. CEO and President Glenn D. Fogel reported the sale of 442 shares of common stock on December 15, 2025, under a pre-arranged 10b5-1 plan.

Summary

• Glenn D. Fogel, CEO and President, and a Director of Booking Holdings Inc. (BKNG), reported the disposition of 442 shares of common stock.
• The transactions occurred on December 15, 2025, and were executed as sales (Code 'S').
• The sales were conducted pursuant to a Rule 10b5-1(c) sales plan, which was adopted on December 9, 2024.
• The shares were sold at various prices ranging from $5,445.18 to $5,482.1 per share.
• Following these transactions, Mr. Fogel beneficially owns 20,568 shares of Booking Holdings Inc. common stock directly.
• This report is the second of two Form 4s filed to report Mr. Fogel's transactions on December 15, 2025.

Sentiment

Score: 5

Explanation: The sentiment is neutral. While insider selling can sometimes be viewed negatively, the pre-planned nature of these transactions under a 10b5-1 plan suggests personal financial management rather than a reaction to new adverse company developments.

Positives

• The sales were made pursuant to a pre-arranged Rule 10b5-1(c) plan, indicating that the transactions were scheduled in advance and not a reaction to recent material non-public information, which generally mitigates concerns about insider selling.

Negatives

• The CEO and President, Glenn D. Fogel, reduced his direct beneficial ownership in the company by 442 shares, which, while pre-planned, still represents a decrease in his direct equity stake.

Future Outlook

NA

Industry Context

This filing reports a routine insider transaction and does not contain information directly related to broader industry trends or competitive landscape.

Stakeholder Impact

• Shareholders: The reduction in direct insider ownership by the CEO is noted, but the pre-planned nature of the sales under a 10b5-1 plan typically suggests a scheduled liquidity event rather than a loss of confidence in the company's future prospects.

Key Dates

Recommendation

The filing reports a routine insider sale by the CEO under a pre-arranged 10b5-1 plan. While insider selling can sometimes be a negative signal, the pre-planned nature of these transactions suggests personal financial planning rather than a reaction to new material non-public information. This event alone does not provide sufficient new information to alter an existing investment thesis for Booking Holdings Inc., thus a 'hold' recommendation is appropriate.

Keywords

Booking Holdings, BKNG, Insider Trading, Form 4, Stock Sale, Glenn Fogel, 10b5-1 Plan, CEO, Director