Form 4: Credo Technology Group's Chief Technology Officer, Chi Fung Cheng, Sells Shares
SEC Form 4 Filing
Chi Fung Cheng, Chief Technology Officer of Credo Technology Group Holding Ltd, executed sales of ordinary shares on September 23, 2024, according to a Form 4 filing with the SEC.
Summary
- Chi Fung Cheng, the Chief Technology Officer of Credo Technology Group Holding Ltd, reported the sale of ordinary shares on September 23, 2024.
- A total of 55,000 shares were sold in two transactions.
- 54,800 shares were sold at a weighted average price of $29.67, with individual prices ranging from $29.21 to $30.19.
- 200 shares were sold at a weighted average price of $30.25, with individual prices ranging from $30.22 to $30.28.
- These sales were executed under a Rule 10b5-1 trading plan adopted by the Cheng Huang Family Trust on September 7, 2023.
- Following the transactions, Cheng directly owns 131,931 ordinary shares and indirectly owns 9,003,602 shares through the Cheng Huang Family Trust.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock sales by an executive. 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 have pre-arranged trading plans to avoid accusations of trading on inside information.
Stakeholder Impact
- The share sales could have a minor negative impact on shareholder sentiment, although the pre-arranged trading plan mitigates concerns about insider information.
Key Dates
| Date | Description |
|---|---|
| 09/07/2023 | Cheng Huang Family Trust adopted Rule 10b5-1 trading plan |
| 09/23/2024 | Date of share sale transactions |
| 09/25/2024 | Date of Form 4 filing |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.