Form 4: Concentrix Corp Executive Cormac J Twomey Sells 400 Shares of CNXC Stock
SEC Form 4
Cormac J Twomey, EVP at Concentrix Corp, sold 400 shares of common stock at $74.63 per share on August 29, 2024, according to a Form 4 filing with the SEC.
Summary
- On August 29, 2024, Cormac J Twomey, an Executive Vice President at Concentrix Corp [CNXC], sold 400 shares of the company's common stock.
- The sale was executed at a price of $74.63 per share.
- Following the transaction, Twomey directly owns 29,327 shares of Concentrix Corp.
- The sale was conducted under a pre-arranged Rule 10b5-1 trading plan adopted on January 29, 2024.
Sentiment
Score: 5
Explanation: Neutral sentiment as it reports a routine stock sale by an executive under a pre-existing trading plan.
Industry Context
Executive stock sales are a common occurrence and are often related to personal financial planning. The use of a 10b5-1 plan suggests the sale was pre-planned and not based on any specific inside information.
Stakeholder Impact
- The sale of shares by an executive could be perceived negatively by some shareholders, but the use of a 10b5-1 plan mitigates concerns about insider trading.
Key Dates
| Date | Description |
|---|---|
| 01/29/2024 | Date the reporting person adopted a Rule 10b5-1 trading plan |
| 08/29/2024 | Date of the transaction (stock sale) |
| 08/30/2024 | Date of the signature on the Form 4 filing |
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