Form 4: Coursera Executive Alan B. Cardenas Reports Stock Transactions

Coursera's SVP, General Counsel, Alan B. Cardenas, sold 6,102 shares and had 7,250 shares withheld for tax obligations.

Summary

• Alan B. Cardenas, SVP, General Counsel at Coursera, Inc., reported transactions involving the company's common stock.
• On November 15, 2024, 7,250 shares were withheld to cover tax liabilities related to vesting restricted stock units.
• On November 18, 2024, Mr. Cardenas sold 6,102 shares at a weighted average price of $6.8258 per share.
• The sales were executed under a pre-arranged Rule 10b5-1 trading plan adopted on February 13, 2024.
• Following these transactions, Mr. Cardenas directly owns 194,082 shares of Coursera common stock.

Sentiment

Score: 5

Explanation: The document is a routine SEC filing detailing stock transactions by an executive, which is neither positive nor negative in itself. The use of a 10b5-1 plan suggests a planned and orderly approach to stock sales.

Industry Context

This is a routine filing for insider transactions and is common for executives of publicly traded companies. The use of a 10b5-1 plan is a common practice to avoid accusations of insider trading.

Comparison to Industry Standards

• The use of Rule 10b5-1 trading plans is a standard practice among executives at publicly traded companies like Coursera, similar to practices at companies such as Google (Alphabet Inc.) and Microsoft, where executives often use these plans to manage their stock sales.
• The reported transactions are typical for executives managing their equity compensation, and the volume of shares sold is not unusual compared to similar filings from other tech companies.
• The price range of $6.77 to $6.86 per share is within the expected volatility range for a stock like Coursera, and the weighted average sale price is consistent with market conditions at the time of the transaction.

Stakeholder Impact

• The transactions may have a minor impact on the stock price, but the use of a 10b5-1 plan suggests the sales were planned and not a reaction to any specific company news.
• The tax withholding of shares is a standard practice and does not have a significant impact on shareholders.

Key Dates

Keywords

Coursera, insider trading, stock sale, Form 4, Alan B. Cardenas, Rule 10b5-1, equity securities, executive compensation