Form 4: CCC Intelligent Solutions Holdings Inc. Executive Exercises and Sells Shares Under 10b5-1 Plan
SEC Form 4 Filing
Githesh Ramamurthy, a director and officer of CCC Intelligent Solutions Holdings Inc., executed transactions involving common stock, including exercising stock options and selling shares, under a pre-arranged 10b5-1 trading plan.
Summary
- On July 18, 2024, Githesh Ramamurthy, a director and officer of CCC Intelligent Solutions Holdings Inc., engaged in transactions involving the company's common stock.
- Ramamurthy exercised stock options to acquire 400 shares at a price of $2.50 per share.
- Simultaneously, Ramamurthy sold 400 shares at a price of $11.50 per share.
- These transactions were executed automatically under a Rule 10b5-1 trading plan adopted on December 20, 2023.
- Following these transactions, Ramamurthy directly owns 6,463,840 shares of common stock and indirectly owns 13,628,362 shares through Higginson Enterprises, LLC.
- Ramamurthy also directly owns 5,370,284 stock options.
Sentiment
Score: 6
Explanation: The sentiment is neutral. The filing simply reports transactions executed under a pre-existing plan, which is a normal course of business.
Positives
- The transactions were pre-planned under a 10b5-1 trading plan, which can mitigate concerns about insider trading.
Future Outlook
The executive's future transactions may continue to be governed by the 10b5-1 trading plan.
Industry Context
Executive stock transactions are a normal part of corporate governance. The use of a 10b5-1 plan is a common practice to allow insiders to trade company stock while avoiding accusations of insider trading.
Comparison to Industry Standards
- Executive compensation and stock ownership are typical for publicly traded companies like CCC Intelligent Solutions Holdings Inc.
- The use of 10b5-1 trading plans is a standard practice among executives at publicly traded companies to manage their stock transactions.
- Comparable companies such as Guidewire Software and Duck Creek Technologies also have executives who utilize similar trading plans.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the small volume of shares traded.
Key Dates
| Date | Description |
|---|---|
| December 20, 2023 | Date the Reporting Person adopted the Rule 10b5-1 trading plan |
| July 30, 2021 | Date of the merger between Cypress Holdings, Inc. and CCC Intelligent Solutions Holdings Inc. |
| July 18, 2024 | Date of the reported transactions (exercise of stock options and sale of shares) |
| July 22, 2024 | Date of the signature on the Form 4 filing |
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