Form 4: Coursera's Chief Revenue Officer Leah F. Belsky Executes Stock Option and Sells Shares
SEC Form 4 Filing
Leah F. Belsky, Chief Revenue Officer of Coursera, Inc., exercised stock options and sold 10,000 shares of common stock on March 21, 2024, according to a Form 4 filing with the SEC.
Summary
- On March 21, 2024, Leah F. Belsky, the Chief Revenue Officer of Coursera, Inc., exercised a stock option to purchase 10,000 shares of common stock at a price of $7.91 per share.
- Simultaneously, Belsky sold 10,000 shares of Coursera's common stock at a weighted average price of $14.4589, with individual sales prices ranging from $14.37 to $14.56.
- These transactions were executed under a pre-arranged Rule 10b5-1 trading plan adopted on November 22, 2023.
- Following these transactions, Belsky directly owns 903,282 shares of Coursera's common stock and 52,938 derivative securities (stock options).
Sentiment
Score: 5
Explanation: The sentiment is neutral as it reports routine insider trading activity under a pre-arranged plan. The exercise and sale of shares are common and don't necessarily indicate a positive or negative outlook.
Industry Context
Insider transactions are routinely monitored and reported to the SEC. The sale of shares by a high-ranking officer such as the CRO is a common occurrence, especially under pre-arranged trading plans. It is important to consider the overall context of insider trading activity, including the frequency and size of transactions, as well as the company's performance and outlook.
Comparison to Industry Standards
- Comparing Coursera to other online education platforms like 2U or Udemy, insider trading activities are generally similar in that executives periodically exercise options and sell shares.
- The use of 10b5-1 trading plans is a common practice among executives at publicly traded companies to avoid accusations of insider trading.
Stakeholder Impact
- The sale of shares by a high-ranking officer could be perceived negatively by some shareholders, although the existence of a 10b5-1 plan mitigates this concern.
- The transactions have no immediate impact on employees, customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| 08/15/2021 | 25% of the total number of shares subject to the option vesting. |
| 11/22/2023 | Date the reporting person adopted a Rule 10b5-1 trading plan. |
| 03/21/2024 | Date of the stock option exercise and stock sale. |
| 03/25/2024 | Date of the Form 4 filing. |
| 08/18/2030 | Expiration date of the stock options. |
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