Form 4: Credo Technology Group Holding Ltd. Director Cheng Chi Fung Sells Shares

Chi Fung Cheng, Chief Technology Officer and Director of Credo Technology Group Holding Ltd, sold a total of 55,000 ordinary shares in two transactions on July 11, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Chi Fung Cheng, a Director and Chief Technology Officer of Credo Technology Group Holding Ltd, executed two sales of ordinary shares on July 11, 2024.
• The first transaction involved the sale of 50,900 shares at a weighted average price of $30.5891, with prices ranging from $30.05 to $31.04.
• The second transaction involved the sale of 4,100 shares at a weighted average price of $31.1378, with prices ranging from $31.05 to $31.26.
• These sales were conducted under a Rule 10b5-1 trading plan adopted by the Cheng Huang Family Trust on September 7, 2023.
• Following these transactions, Cheng directly owns 134,391 shares and indirectly owns 9,388,602 shares through the Cheng Huang Family Trust.

Sentiment

Score: 5

Explanation: The sentiment is neutral as it reports routine transactions under a pre-arranged trading plan. There is no indication of positive or negative implications for the company's performance.

Industry Context

Sales by company insiders are a common occurrence and are often related to personal financial planning. The use of a 10b5-1 trading plan suggests the sales were pre-planned and not based on any specific non-public information.

Stakeholder Impact

• The share sales may have a minor impact on shareholders due to the increased supply of shares in the market, but the pre-planned nature of the sales mitigates concerns about insider information.

Key Dates