Form 4: Bowman Consulting Group CEO Gary Bowman Sells Shares Under 10b5-1 Trading Plan

Gary Bowman, CEO of Bowman Consulting Group, executed sales of common stock under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Gary Bowman, the CEO of Bowman Consulting Group Ltd., sold shares of the company's common stock on June 26 and June 27, 2024.
• The sales were executed under a pre-arranged Rule 10b5-1 trading plan adopted on September 15, 2023.
• Mr. Bowman sold 6,250 shares on each of June 26 and June 27 at prices of $31.306 and $31.329, respectively.
• Bowman Family Asset Management LLC (BFAM), an estate planning vehicle managed by Mr. Bowman, also sold 2,500 shares on each of June 26 and June 27 at the same prices.
• Following these transactions, Mr. Bowman directly owns 931,002 shares and indirectly owns 1,408,338 shares through BFAM.
• The Rule 10b5-1 plan allows for the sale of up to 80,000 shares by Mr. Bowman and up to 40,000 shares by BFAM between December 2023 and October 2024.

Sentiment

Score: 5

Explanation: The document is neutral as it simply reports stock sales under a pre-existing trading plan. There is no indication of positive or negative sentiment.

Future Outlook

The Rule 10b5-1 trading plan allows for continued sales of Bowman Consulting Group stock by Gary Bowman and Bowman Family Asset Management LLC through October 2024, up to a specified maximum number of shares.

Industry Context

Sales by executives under 10b5-1 plans are common and allow insiders to sell shares over a period of time while avoiding concerns about insider trading. The disclosure provides transparency to the market regarding these transactions.

Comparison to Industry Standards

• Rule 10b5-1 trading plans are a standard practice among publicly traded companies to allow insiders to diversify their holdings while adhering to insider trading regulations.
• Comparable companies such as AECOM, Jacobs Engineering Group, and Tetra Tech also have executives who utilize 10b5-1 plans for stock sales.
• The size and frequency of the sales are within the typical range observed for executives using such plans.

Stakeholder Impact

• The stock sales could have a minor impact on shareholders if they perceive the sales negatively, although the existence of the 10b5-1 plan mitigates this concern.
• The impact on employees, customers, suppliers, and creditors is likely to be minimal.

Key Dates