Form 4: CCC Intelligent Solutions Holdings Inc. Executive Exercises Options and Sells Shares Under 10b5-1 Plan
SEC Form 4 Filing
Githesh Ramamurthy, a director and officer of CCC Intelligent Solutions Holdings Inc., executed stock options and sold 1,000,000 shares of common stock under a pre-arranged trading plan.
Summary
- On March 20, 2024, Githesh Ramamurthy, a director and officer of CCC Intelligent Solutions Holdings Inc., exercised stock options to acquire 1,000,000 shares of common stock at a price of $2.50 per share.
- Simultaneously, Ramamurthy sold 1,000,000 shares of common stock at a weighted average price of $11.862, with individual sales ranging from $11.75 to $12.00.
- 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.
- He also directly owns 8,365,143 stock options.
Sentiment
Score: 5
Explanation: The sentiment is neutral as it reflects routine transactions under a pre-arranged trading plan. There is no indication of positive or negative implications for the company's performance.
Industry Context
This filing is a routine disclosure of insider transactions. It is common for executives to utilize 10b5-1 trading plans to sell shares over time to avoid accusations of trading on inside information.
Key Dates
| Date | Description |
|---|---|
| 07/30/2021 | Merger date of Cypress Holdings, Inc. with CCC Intelligent Solutions Holdings Inc., where Ramamurthy received stock options. |
| 12/20/2023 | Date the Reporting Person adopted the Rule 10b5-1 trading plan. |
| 03/20/2024 | Date of the stock option exercise and share sale. |
| 03/22/2024 | Date of the Form 4 filing. |
| 07/10/2027 | Expiration date of the stock options. |
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