Form 4: Credo Technology Group's Chief Technology Officer, Chi Fung Cheng, Executes Stock Sales Under 10b5-1 Plan
SEC Form 4 Filing
Chi Fung Cheng, Chief Technology Officer of Credo Technology Group Holding Ltd, sold shares of common stock 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 March 10, 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 54,999 shares were sold in multiple transactions at varying prices.
- The prices ranged from $38.73 to $42.25 per share.
- Following the reported transactions, the Cheng Huang Family Trust beneficially owns 8,158,602 ordinary shares.
- Cheng disclaims beneficial ownership of these shares except to the extent of his and his spouse's pecuniary interest.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing regarding stock sales by an insider. It doesn't inherently convey positive or negative sentiment.
Industry Context
This filing is a routine disclosure of insider trading activity. It is common for executives to use 10b5-1 plans to sell shares over time to avoid accusations of trading on inside information.
Stakeholder Impact
- The stock sales could have a minor negative impact on shareholder sentiment, but the existence of a 10b5-1 plan mitigates this.
Key Dates
| Date | Description |
|---|---|
| 2003-12-22 | Date of the Cheng Huang Family Trust U/T/A |
| 2024-09-06 | Date the Cheng Huang Family Trust adopted the Rule 10b5-1 trading plan |
| 2025-03-10 | Date of the reported transactions (stock sales) |
| 2025-03-12 | Date of the signature on the Form 4 filing |
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