Form 4: Certara Inc. Executive Patrick F. Smith Sells Shares Under 10b5-1 Trading Plan
SEC Form 4
Patrick F. Smith, President of Drug Development Solutions at Certara Inc., sold shares of common stock on April 2, 2024, under a pre-arranged 10b5-1 trading plan.
Summary
- On April 2, 2024, Patrick F. Smith, President of Drug Development Solutions at Certara Inc., sold shares of the company's common stock.
- The sales were executed in multiple transactions at varying prices, ranging from $16.50 to $17.85 per share.
- A total of 9,437 shares were sold, resulting in a decrease in Smith's direct holdings.
- These transactions were conducted under a Rule 10b5-1 trading plan adopted on November 20, 2023.
- Following the reported transactions, Smith directly owns 50,091 shares of Certara Inc.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock sales by an executive. It doesn't inherently convey positive or negative sentiment.
Industry Context
This filing is a routine disclosure of insider trading activity. It is common for executives to use 10b5-1 trading plans to sell shares over time to avoid accusations of trading on inside information.
Stakeholder Impact
- The stock sale could have a minor negative impact on shareholder sentiment, although the use of a 10b5-1 plan mitigates concerns about insider trading.
Key Dates
| Date | Description |
|---|---|
| 2023-11-20 | Date the Reporting Person adopted a Rule 10b5-1 trading plan |
| 2024-04-02 | Date of the stock sale transactions |
| 2024-04-04 | Date of Form 4 filing |
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