Form 4: Coursera SVP, General Counsel Alan B. Cardenas Reports Stock Transactions
SEC Form 4 Filing
Alan B. Cardenas, SVP, General Counsel of Coursera, Inc., reports the withholding of shares for tax liability and the sale of shares under a Rule 10b5-1 trading plan.
Summary
- On May 15, 2024, Coursera withheld 6,870 shares of common stock from Alan B. Cardenas to cover tax liabilities associated with vesting restricted stock units.
- On May 17, 2024, Cardenas sold 6,283 shares of Coursera common stock at a weighted average price of $8.5646 per share.
- The sales were executed under a pre-arranged Rule 10b5-1 trading plan adopted on February 13, 2024.
- Following these transactions, Cardenas directly owns 220,589 shares of Coursera common stock.
Sentiment
Score: 5
Explanation: The sentiment is neutral as it reports routine insider trading activity. The transactions themselves don't necessarily indicate a positive or negative outlook for the company.
Industry Context
This filing is a routine disclosure of insider transactions and provides insight into the trading activities of Coursera's executives. It is common for executives to utilize Rule 10b5-1 trading plans to sell shares over time to avoid accusations of insider trading.
Key Dates
| Date | Description |
|---|---|
| February 13, 2024 | Date of adoption of Rule 10b5-1 trading plan |
| May 15, 2024 | Shares withheld for tax liability |
| May 17, 2024 | Date of stock sale |
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