Form 4: CCC Intelligent Solutions Executive Marc Fredman Executes Stock Option Sales Under 10b5-1 Plan

Marc Fredman, SVP and Chief Strategy Officer of CCC Intelligent Solutions Holdings Inc., executed stock option exercises and sales under a pre-arranged 10b5-1 trading plan.

Summary

• Marc Fredman, SVP, Chief Strategy Officer of CCC Intelligent Solutions Holdings Inc., filed a Form 4 detailing changes in beneficial ownership.
• The transactions involved the exercise of stock options and subsequent sale of common stock under a pre-arranged Rule 10b5-1 trading plan.
• On March 14, 2024, Fredman exercised options to acquire 307,536 shares of common stock at a price of $2.50 per share and sold 324,952 shares at a weighted average price of $12.1518.
• On March 15, 2024, Fredman exercised options to acquire 300,894 shares of common stock at a price of $2.50 per share and sold 300,894 shares at a weighted average price of $11.8139.
• On March 18, 2024, Fredman exercised options to acquire 239,990 shares of common stock at a price of $2.50 per share and sold 239,990 shares at a weighted average price of $11.8388.
• Following these transactions, Fredman still beneficially owns 212,542 shares of common stock directly.
• The stock options were originally granted in connection with the acquisition of Cypress Holdings, Inc. by CCC Intelligent Solutions Holdings Inc. on July 30, 2021.
• The options vest over time, with some subject to performance conditions that were deemed fully satisfied upon the merger.

Sentiment

Score: 5

Explanation: This is a neutral disclosure of stock transactions by an executive. The use of a 10b5-1 plan suggests a pre-determined strategy, and the transactions themselves don't necessarily indicate positive or negative sentiment about the company's future.

Industry Context

This Form 4 filing is a routine disclosure related to insider trading activity. It provides transparency into the transactions of company executives and their holdings in the company's stock. The use of a 10b5-1 trading plan allows insiders to sell shares over a period of time without being accused of trading on non-public information.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies and their executives.
• The use of 10b5-1 trading plans is a common method for corporate insiders to manage their stock holdings while avoiding potential insider trading accusations.
• Comparable companies such as Guidewire Software and Duck Creek Technologies also have executives who utilize 10b5-1 plans for stock transactions.

Stakeholder Impact

• The transactions may have a minor impact on shareholders due to the increased volume of shares being sold in the market.
• However, the use of a 10b5-1 plan mitigates concerns about insider trading and provides transparency to the market.

Key Dates