Form 4: Credo Technology Group COO Lam Yat Tung Sells 10,000 Shares
SEC Form 4 Filing
Credo Technology Group's COO, Lam Yat Tung, sold 10,000 ordinary shares at $17.50 per share on May 10, 2024, according to a Form 4 filing.
Summary
- On May 10, 2024, Lam Yat Tung, the Chief Operating Officer of Credo Technology Group Holding Ltd, sold 10,000 ordinary shares of the company.
- The shares were sold at a price of $17.50 per share.
- The transaction was executed under a pre-arranged Rule 10b5-1 trading plan adopted on July 13, 2023.
- Following the transaction, Lam Yat Tung directly owns 3,143,738 ordinary shares.
- Lam Yat Tung also indirectly owns 720,000 shares through Chung BVI Co Ltd and 1,270,000 shares through Zhan BVI Co Ltd, but disclaims beneficial ownership except to the extent of any pecuniary interest.
Sentiment
Score: 5
Explanation: The document is a neutral regulatory filing detailing a share sale. It doesn't inherently convey positive or negative sentiment.
Industry Context
This filing is a routine disclosure of insider trading activity. It's common for executives to sell shares under pre-arranged trading plans to avoid accusations of trading on inside information.
Stakeholder Impact
- The share sale could have a minor negative impact on shareholder sentiment, although the pre-planned nature of the sale mitigates this.
Key Dates
| Date | Description |
|---|---|
| 07/13/2023 | Date the reporting person adopted a Rule 10b5-1 trading plan |
| 05/10/2024 | Date of the transaction (sale of shares) |
| 05/14/2024 | Date of the Form 4 filing |
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