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

Director and Chief Technology Officer of Credo Technology Group Holding Ltd, Cheng Chi Fung, sold shares of the company's ordinary stock under a pre-arranged 10b5-1 trading plan.

Summary

• Chi Fung Cheng, a Director and Chief Technology Officer at Credo Technology Group Holding Ltd, reported the sale of ordinary shares on August 9, 2024.
• The sales were executed under a Rule 10b5-1 trading plan adopted by the Cheng Huang Family Trust on September 7, 2023.
• A total of 52,788 shares were sold at a weighted average price of $27.3204, with individual transactions ranging from $26.58 to $27.57.
• An additional 2,212 shares were sold at a weighted average price of $27.613, with individual transactions ranging from $27.58 to $27.66.
• Following these transactions, Cheng Chi Fung directly owns 134,391 ordinary shares.
• The Cheng Huang Family Trust, of which Cheng Chi Fung and his spouse are trustees and beneficiaries, indirectly holds 9,223,602 ordinary shares.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing reporting share sales by an insider. It doesn't inherently convey positive or negative sentiment, but rather provides factual information about the transactions.

Industry Context

Sales by insiders are a normal part of corporate governance, especially when executed under pre-arranged trading plans like Rule 10b5-1. These plans allow insiders to sell shares over a period of time without being accused of trading on non-public information.

Stakeholder Impact

• The share sales could have a minor negative impact on shareholder sentiment, although the sales were conducted under a pre-arranged trading plan.

Key Dates