Form 4: Carlyle Group Sells Additional Shares of QuidelOrtho Corp (QDEL) Under 10b5-1 Trading Plan

The Carlyle Group continues to execute its pre-arranged stock sale plan, disposing of QuidelOrtho Corp shares in multiple transactions.

Summary

• The Carlyle Group Inc. sold shares of QuidelOrtho Corp (QDEL) on June 18 and June 20, 2024.
• The sales were executed under a pre-arranged Rule 10b5-1 trading plan adopted on May 12, 2024.
• On June 18, 2024, 31,730 shares were sold at a weighted average price of $35.7402, with prices ranging from $35.52 to $35.9987.
• An additional 16,811 shares were sold on June 18, 2024, at a weighted average price of $36.3791, with prices ranging from $36.00 to $36.88.
• On June 20, 2024, 49,593 shares were sold at a weighted average price of $34.8158, with prices ranging from $34.2892 to $34.9995.
• Another 17,614 shares were sold on June 20, 2024, at a weighted average price of $35.0856, with prices ranging from $35.00 to $35.26.
• Following these transactions, the Carlyle Group's indirect beneficial ownership stands at 11,908,315 shares.
• The shares are held of record by Carlyle Partners VI Cayman Holdings, L.P.
• The Carlyle Group Inc. disclaims beneficial ownership of these securities.

Sentiment

Score: 5

Explanation: Neutral sentiment as the transactions are part of a pre-planned strategy. The ongoing sales could create some downward pressure, but it's not unexpected.

Negatives

• The Carlyle Group is reducing its stake in QuidelOrtho Corp, which could be interpreted negatively by the market.

Risks

• Continued sales by the Carlyle Group could put downward pressure on QuidelOrtho's stock price.
• The market may react negatively to the ongoing reduction in Carlyle's position.

Future Outlook

The Carlyle Group is expected to continue selling shares of QuidelOrtho Corp under the existing 10b5-1 trading plan.

Industry Context

Private equity firms like Carlyle often distribute shares in portfolio companies over time. This is a common practice and part of the fund's lifecycle.

Comparison to Industry Standards

• Blackstone and KKR also use 10b5-1 plans to manage their holdings in publicly traded companies.
• These plans allow for orderly sales without triggering insider trading concerns.
• The size and pace of the sales are typical for large shareholders managing their positions.

Stakeholder Impact

• Shareholders may experience slight downward pressure on the stock price due to the ongoing sales.
• The impact on employees, customers, suppliers, and creditors is expected to be minimal.

Key Dates