Form 4: Byrna Technologies CEO Bryan Ganz Sells Shares Under 10b5-1 Plan
SEC Form 4 Filing
Byrna Technologies CEO Bryan Ganz sold 17,442 shares of common stock at an average price of $15.4024 per share on September 5, 2024, under a pre-arranged 10b5-1 trading plan.
Summary
- On September 5, 2024, Bryan Ganz, the President and CEO of Byrna Technologies Inc., sold 17,442 shares of the company's common stock.
- The sale was executed under a pre-arranged 10b5-1 trading plan adopted on April 8, 2024.
- The shares were sold at prices ranging from $15.40 to $15.4181, with a weighted average price of $15.4024.
- Following the transaction, Bryan Ganz directly owns 880,406 shares and indirectly owns 460,617 shares through Northeast Industrial Partners LLC, 3,800 shares through Li Zhang, and 70,753 shares through the Judith L. Ganz Trust VA 04-23-2015.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the sale was conducted under a pre-arranged 10b5-1 plan, indicating it was a planned transaction rather than a reaction to current company performance.
Industry Context
Sales by insiders are a normal part of corporate governance, especially when executed under pre-arranged 10b5-1 plans, which allow insiders to sell shares at predetermined times and prices to avoid accusations of trading on non-public information.
Stakeholder Impact
- The sale of shares by the CEO could be perceived negatively by some shareholders, but the existence of a 10b5-1 plan mitigates this concern.
Key Dates
| Date | Description |
|---|---|
| 04/08/2024 | Date of adoption of the 10b5-1 trading plan. |
| 09/05/2024 | Date of the stock sale transaction. |
| 09/06/2024 | Date of signature on the Form 4 filing. |
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