Form 4: Credo Technology Group Holding Ltd: Chi Fung Cheng Sells Shares Under 10b5-1 Plan

Chi Fung Cheng, Chief Technology Officer of Credo Technology Group Holding Ltd, sold a significant number of ordinary shares under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Chi Fung Cheng, the Chief Technology Officer of Credo Technology Group Holding Ltd, reported the sale of ordinary shares on April 22, 2025.
• The sales were executed under a Rule 10b5-1 trading plan adopted by the Cheng Huang Family Trust on September 6, 2024.
• A total of 19,457 shares were sold at a weighted average price of $36.4395, and 35,543 shares were sold at a weighted average price of $36.9026.
• Following these transactions, Cheng directly owns 121,810 ordinary shares.
• The Cheng Huang Family Trust, of which Cheng and his spouse are trustees and beneficiaries, indirectly holds 7,809,145 and 7,773,602 ordinary shares after each transaction respectively.
• Cheng disclaims beneficial ownership of the shares held by the trust except to the extent of his and his spouse's pecuniary interest.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing related to insider trading. It doesn't inherently convey positive or negative sentiment, as it simply reports transactions. The use of a 10b5-1 plan suggests pre-planned sales, which is neutral.

Industry Context

Sales by insiders are a common occurrence, and the use of 10b5-1 plans allows insiders to sell shares without being accused of trading on inside information. The market typically views these sales in the context of the overall health and prospects of the company.

Stakeholder Impact

• The share sales could have a minor negative impact on shareholder sentiment, although the use of a 10b5-1 plan mitigates concerns about insider information.

Key Dates

Keywords

Form 4, Credo Technology Group Holding Ltd, CRDO, Chi Fung Cheng, Share Sale, Rule 10b5-1, Cheng Huang Family Trust, Insider Trading